Eurobank Equities foresees a “bullish” 2021 for the Athens Stock Exchange (ATHEX) despite the recent decline in daily volume of transactions.
The daily average now hovers at around 80 million euros, still significant higher than the daily volume posted between 2016 and 2020, when the average was 62 million euros.
According to Eurobank Equities, the recent slack in daily trade volume is temporary, with a bevy of recent new listings and bond issues absorbing much of the market’s liquidity.
The firm forecasts a fillip in volume and a “bullish” market as of September, as the markets appear to be hedging on an expected all-round economic recovery in 2022.
In terms of the general market situation and the Greek economy as a whole, Eurobank Equities says the latter remain positive and supportive of ATHEX, with other positive factors cited being a stable government extolling a reform agenda and soon-to-commence funding from the EU’s post-Covid recovery fund – which the BoG forecasts will boost GDP by 7 percent until 2026.