The Athens Stock Exchange (ATHEX), Greece’s stock exchange, ranked first in the global stock market chart for 2019, posting 43.91% in profits for the 10-month period January-October, with the banking sector (+101.59%) leading the way, while total capitalisation has increased by EUR 13,121 billion since early 2019.
As, Athens News Agency (Amna.gr) reports, the ATHEX recorded a significant rebound from the beginning of 2018, covering the huge losses it had suffered in the last 5 years.
However, the strong upward trend of the market peaked after the European elections when markets projected a win for conservative party New Democracy in the national elections that were announced.
The stock market was boosted even further amidst the “high” climate as a result the ongoing positive performance of the Greek bond market with yields falling to historically low levels.
The General Price Index for the January-October 2019 period rose 269,270 points or 43.91% to close at 882.57 points against 613.30 at the end of 2018.
The only negative month was August, with losses (-3.54%). Total market capitalisation since the beginning of the year increased by € 13,121 billion, to € 58,391 billion from € 45,272 billion at the end of 2018.
Leading the comeback for the 10-month period January-October 2019 was the banking sector which rallied with a 101.59% rise. At the end of October, the banking index had hit a 15-month high.