The Athens Stock Exchange ranked third globally in returns for both May and year-to-date performance, according to data from Deutsche Bank. In May alone, the ASE delivered a return of over 9%, placing it behind only the European banking index (DJ Stoxx 600 Banks) and the NASDAQ.
The German bank attributes the solid showing to the improvement in Greece’s macroeconomic outlook, the upgrade of its credit rating, and the growing appeal of Greek equities among international investors.
The Athens Stock Exchange also posted impressive year-to-date figures, with gains exceeding 25%, making it the second-best-performing stock market worldwide—trailing only the DJ Stoxx 600 Banks index.
Deutsche Bank reports that the NASDAQ also posted strong profits amid increased interest by investors in technology stocks and emerging markets. At the same time, the solid performance of sovereign and high-yield corporate bonds reflected improved confidence in credit risk.
