2023 was an excellent year for the Greek Stock Exchange, which closed the year with profits close to 40%.

As he mentions the reporter of the German Press Network (RND) in Athens, Gerd Heller, “during the 2008 global financial crisis and the subsequent debt crisis the Athens Athex Composite index fell from 5,000 to 420 points. But last year […] the index posted gains of 39.1% – thus recording one of the best performances globally.

[…] Those who took shares of the Greek airline company Aegean Airlines or Piraeus Bank in their portfolio at the beginning of last year more than doubled their investment, while the shares of the Mytileneos group and the TITAN group increased by approximately 80%”.

No recession is expected for 2024. “The government expects growth of 2.9% – the estimated average growth of the Eurozone is expected at 1.2%. […] Furthermore, Greek government bonds are trading at higher prices than comparable Italian securities.”

In fact, “analysts estimate that for 2024 they exist still room for further growth for the Greek Stock Exchange. Because despite last year’s very good performance, Greek shares are at relatively cheap prices,” continues the RND reporter.

The banking ratio also showed a significant rise, which increased by 65% ​​in 2023. “However, the P/E ratio (price to earnings per share ratio) of the four systemic banking institutions – namely Alpha Bank, Eurobank, Piraeus Bank and the National Bank of Greece (E.T.E.) – is only at 5.2 on average. Deutsche Bank analysts recently raised their price targets for the four Greek banks – by 50% for Eurobank, 45% for Alpha Bank and E.T.E. and 30% for Piraeus Bank”.

As the German network points out, “the most important Greek shares are also traded in Germany. But limited liquidity affects tradability. For private investors there are also alternatives such as actively managed mutual funds, such as the Hellas Opportunities Fund and the Eurobank Equity – Greek Equities Fund.

[…] Anyone who invests in Greek shares should, however, also take into account the inherent risk they are taking on”, emphasizes the RND, recalling that “in the past, the Athens Stock Exchange has not only always brought investors great profits, but also significant losses”.