The stock market completed three profitable years, during which the main stock market index registered total gains 59.85%.

THE total capitalization of the market in the three years increased by 34.203 billion euros and amounted to 87.888 billion euros from 55.865 billion euros which was at the end of 2020, while listed companies drew 11 billion euros from the Athens Stock Exchange in the same period.

The high-cap index is up 61.42% and the mid-cap 103.26%, while the Banking index outperforms with gains of 104.56%.

Average transactions in 2023 stood at €111 million, up 50% on 2022 turnover of €74 million, with the market gaining depth, while 2021 average turnover was €70.8 million and in 2020 it was at 64.5 million. That is, within the last three years the average transactions increased by 72%.

Support for the market in the last three years was provided by the high growth rates, much higher than in the Eurozone, the good course of fiscal figures, political stability, the good course of the figures of listed companies, the return to normality of the banks, but also the market expectations for investment grade recovery.

From high capitalization. in the last three years, the biggest increase was recorded by the shares of Mytilineos (+208.40%), Ethniki (+178.20%), Eurobank (+178.07%), Aegean (+142.51%) , Motor Oil (+101.36%), Jumbo (+76.80%), GEK TERNA (+67.01%), Quest (+64.42%), Alpha Bank (+61.32 %), Titan (+56.11%) and PPC (+50.21%). The securities of OPAP (49.62%), Ellaktor (+47.83%), Viohalco (+40.64%), ELPE (+34.81%), Terna Energy (+20) show a smaller increase .45%), PPA (+18.97%) and Elvalhalcor (+8.82%), while the share of Coca Cola HBC was stable. On the contrary, losses were recorded by the shares of EYDAP (-11.35%), Sarantis (-10.37%), Lamda (-4.79%) and OTE (-3.03%)

The course of the AX per year

With gains of 10.43% it closed 2021 for the stock market, recovering almost the lost ground of 2020 (-11.75%), while the total value of the shares increased by 12.227 billion euros, to 66.092 billion euros, then from a reduction of 7.8 billion euros in 2020.

Listed companies raised 7.9 billion euros from the Athens Stock Exchange in 2021, through capital increases and corporate bond issues, which is the highest amount in the last five years.

Of the large issuances, we note Piraeus’ €2.36 billion capital increase (CoCos conversion) and €1.38 billion private placement capital increase, as well as PPC’s €1.35 billion capital increase , as well as the corresponding EUR 800 million of Alpha Bank.

In corporate bonds, 5 new issues stood out (Motor Oil with 200 million euros, Protea AEEAP with 300 million euros, Costamare with 100 million euros and CPLP Shipping Holding with 150 million euros and ElvalHalcor with 250 million euros).

Despite the pressure from the pandemic and the weak start of the year, the listed companies achieved a full recovery in their profits and activity.

The banking index recorded year-to-date gains of 10.78%, following losses of 41.37% in 2020, as banks showed signs of a return to normalcy with a decline in non-performing loans.

The Athens Stock Exchange moved against the “bears” in 2022 and managed, in a difficult situation, to “resist” the war in Ukraine, international inflation, rising interest rates, the energy crisis and differentiate itself positively from the other developed markets of the planet, something that it happens for the first time since 1990.

The Greek stock market not only played a strong “defense”, presenting a better picture than the international markets in a difficult international environment, but in the end it closed on positive ground, with an annual gain of 4.08%, when the major international indices fell significantly (S&P – 19% Nasdaq -33%, Dow Jones-9%, DAX-30 -12% ).

The Greek stock market found support mainly in the high growth rates of the Greek economy, in the record results recorded by the listed companies and in… the return of the banks. After many years Banks will be profitable, with single digit NPEs.

The Banking Index recorded an increase of 11.42%. In 2022, a total of 1,094 million euros were raised from listed companies.

The Athens Stock Exchange closed 2023 with high gains of 39.08%, completing the third consecutive year of growth and was at the top of the world’s returns. It won the “bronze” medal globally, closing behind the Russian MOEX index and the Nasdaq.

The total market capitalization increased by 22.026 billion euros and stood at 87.888 billion euros.

In 2023, listed companies raised a total of Euro2,044 million through the stock market.

The significant rise in share prices was also accompanied by an increase in transaction value, with average daily transactions at €111 million, almost 50% higher than last year. The Banking Index registered a rise of 65.73%, while the total capitalization of the four systemic banks increased by 7.889 billion euros.

ANNUAL PERFORMANCE OF THE GENERAL INDEX

2023 +39.08%

2022 +4.08%

2021 +10.43%

2020 -11.75%

2019 +49.47%

2018 -24.74%

2017 +24.66%

2016 +1.95%

2015 -23.58%

2014 -28.94%

2013 +28.06%

2012 +33.43%

2011 -51.88%

2010 -35.62%

2009 +22.93%

2007 +17.86%

2006 + 19.93%

2004 +31.5%

2003 +23.10%

2002 +29.5%

2001 -32.5%

2000 -23.5%

1999 -38.8%

1998 +102.2%

1997 +85.1%

1996 +58.5%

1995 +2.1%