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Foreign investors attracted by low valuations in Greek market

Δημοσίευση 22 Δεκεμβρίου 2010, 10:06 / Ανανεώθηκε 27 Ιουνίου 2013, 14:55
Foreign investors attracted  by low valuations in Greek market
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Low valuations currently prevailing in the Greek stock market are attracting foreign institutional investors’ interest, Socrates Lazaridis, president of the Athens Stock Exchange, said on Tuesday. Speaking to reporters, Lazaridis sounded confident that the Greek stock market would remain among FTSE’s developed markets list.

Low valuations currently prevailing in the Greek stock market are attracting foreign institutional investors’ interest, Socrates Lazaridis, president of the Athens Stock Exchange, said on Tuesday. Speaking to reporters, Lazaridis sounded confident that the Greek stock market would remain among FTSE’s developed markets list.


The head of the Athens Stock Exchange said that the Greek market was currently under the microscope of foreign investors because of cheap valuations in the market, a trend which was evident during a series of meetings held by Lazaridis in his recent visit in New York.
ASE’s president stressed that a next round of privatizations planned by the government would help in boosting liquidity in the Greek capital market during the 2011-2013 period. Lazaridis noted that the Greek market would not face any problems during the next semi-annual review of the market by FTSE Group, as the Athens Stock Exchange was fulfilling all criteria to remain among the world’s developed markets.
Lazaridis said a new system, X-Net, would begin operating from early 2011, allowing electronic transactions between mature markets in the Balkans and Eastern Mediterranean, and noted that 23 companies have already expressed interest, while he expressed his concern over the fact that investors focused their buying interest in just a few blue chip stocks, with only five blue chip stocks accounting for 57 pct of total transactions in the market.