- Greek stocks have risen 22% in 2023, the sixth-best out of 92 benchmarks tracked by Bloomberg, boosted by bets on upgrade to investment-grade status.
- Banks and consumer-facing companies are among the biggest gainers.
- The election may provide the latest catalyst for markets after ratings agencies said a potential upgrade to investment-grade status will depend on the next government maintaining the pace of structural reforms and fiscal discipline.
- Barclays strategists expect the rating upgrade to come within the next year.
- Despite recent gains, Greek equities remain significantly below longer-term peaks, and valuations don’t look demanding.
Greek Stocks Are Among World’s Best Performers Ahead of Election
Greek stocks are posting some of the world’s biggest gains in this year’s run-up to Sunday’s election as investors bet the nation can regain its investment-grade status on fiscal discipline and economic resilience.
Ksenia Galouchko
