As we move towards the end of 2021, the Greek stock market at the level of General Index gains 12.97% since the beginning of the year, but its performance remains at lower levels compared to the largest international markets and the barometer index of Europe, the DJ index Stoxx 600, which gains more than 20%.
The Dow Jones index since the beginning of the year gained 17.98%, the S&P 24.68% and the Nasdaq 25.67%. The DAX-30 index gained 17.31%, the FTSE-100 13.74% and the French CAC-40 index increased 27.74%.
In Europe, banks are one of the top performers on an annual basis, with the STOXX 600 Banks index rising over 40% year-on-year, while the banking index recording gains of 13.16%.
At the same time, foreign investors point out that the Greek stock market is the most attractive in Europe, while it offers high dividend yields and the corporate profit potential of listed companies seems strong, according to the estimates of domestic and foreign investment houses.
For the next 12-month period, according to JP Morgan, the price-to-earnings ratio will be 12.6 times this year, while the P / E index of European stocks will be around 17 times, making the domestic market the ” cheaper “in Europe, with a small difference from the second country which is Italy, with an index of 13.1 times.
At the same time, the dividend yield for the next 12 months is much higher, at 2.8% compared to 2.1% for European stocks.
Regarding the valuations of Greek shares, for Citigroup the estimated P / E index in the Greek market for 2021 is 12.4, while for 2022 at 9.7.
The P / E in the US market from 22.1 this year will move to 20.6 in 2022, while in Europe from 15.6 this year to 14.8 in 2022, according to Citigroup.
The dividend yield for Greek shares is at the level of 3.7%, above the average in Europe and the USA, which stands at 3.1% and 1.3% respectively.
Yields since the beginning of 2021
The biggest increase, since the beginning of the year, is recorded by the share prices: Epsilon Net (+ 309.19%), Intracom (+ 142.24%), Entersoft (+ 10.3.08%), Plastics of Thrace (+ 97.11%), Byte Computer (+ 94.90%), Space Hellas (+ 71.17%), Reds (+ 10.50%), Quest Holdings (+ 67.00%), Intracat (+66, 79%) and Cenergy (+ 65.03%).
On the contrary, the biggest drop is recorded by the share prices: Piraeus (-93.29%), Attica Bank (-70.94%), Flexopack (-28.72%), Kekrops (-16.42%), Ellactor ( -8.23%), Sarantis (-7.49%), PPA (-7.08%), MIG (-5.26%), Jumbo (-4.50%) and Louli Mills (-4.48 %).
From the high capitalization, from the beginning of 2021, the stock prices gain: Eurobank (+ 64.88%), DEH (+ 38.63%), GEK TERNA (+ 28.93%), Mytilineos (+28 , 24%), Motor Oil (+ 25.34%), Viohalco (+ 21.39%), OPAP (+ 21.23%), ELPE (+ 16.48%), Ethniki (+ 16.10%) , Alpha Bank (+ 16.01%), OTE (+ 15.02%), Coca Cola HBC (+ 14.86%), Elvalhalcor (+ 11.18%), EYDAP (+ 9.75%), Titan (+ 9.46%), Aegean Airlines (+ 8.90%) and Lamda Development (+ 4.79%).
On the contrary, securities prices show losses: Piraeus (-93.29%), Ellactor (-8.23%), Sarantis (-7.49%), PPA (-7.08%), Jumbo (-4, 50%), HELEX (-3.21%), IPTO (-2.84%) and Terna Energy (-1.52%).