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4 clusters · 28 sources · 16 days · First seen · Last updated

Greek stock market developed market reclassification

Overview

Greece is transitioning from an emerging market to a developed market following a reclassification by FTSE Russell and STOXX. This upgrade moves the Euronext Athens into the category of mature markets, marking a return to developed status after more than thirteen years of reforms aimed at improving market quality and investor confidence. Major index providers are implementing significant changes effective September 21. STOXX will include nine Greek stocks in its STOXX Europe 600 benchmark, including Metlen Energy & Metals, National Bank of Greece, Eurobank, Piraeus Bank, Alpha Bank, GEK TERNAs, Jumbo, Motor Oil, and PPC (DEI). These companies will also join the Euro STOXX and STOXX Global 1800. Additionally, six banks—National Bank of Greece, Eurobank, Piraeus Bank, Alpha Bank, Optima Bank, and CrediaBank—will be included in the EURO STOXX Banks index. FTSE Russell is adding 32 Greek stocks to its developed market indices. Financial implications remain a focal point. J.P. Morgan estimates that STOXX changes could trigger inflows exceeding $1.015 billion, though it predicts net outflows of approximately €110.5 million due to FTSE Russell adjustments. Greece will maintain a dual status for eight months, as MSCI is expected to keep the country in emerging markets until May 2027. Alongside this market milestone, the government is pursuing a strategic roadmap to reduce electricity costs for households and businesses by 30% over three years. This includes increasing energy storage capacity to 1 GW by the end of 2026 and launching subsidy programs for heat pumps and solar water heaters. Furthermore, the government plans to reduce Public Utility Service (YKO) charges by 50% starting January 2027, and intends to abolish most presumptive income tax for consistent self-employed professionals starting in 2026.

Entities

FTSE Russell · Stoxx · Euronext Athens · Greece · Eurobank

Claims

What the coverage asserts, and how many sources carry each claim.

Coverage disagrees

Sources make claims that cannot both be true. CLSTR reports the disagreement; it does not decide who is right.

  • "The Greek stock market saw a 0.6% increase in September last year." www.naftemporiki.gr

    vs

    "The Greek market experienced a 7.8% drop in September 2023." www.naftemporiki.gr

    The claims provide conflicting performance figures for the Greek stock market in September (a 0.6% increase versus a 7.8% drop).

Timeline

  1. 7 days ago

    [BUSINESS] 19 sources
    Greece announces energy cost reduction and economic reform roadmap

    Greece announces a roadmap to cut electricity costs by 30% by 2029 through YKO charge reductions, energy storage expansion, and renewable subsidies, alongside major tax reforms and a stock market upgrade.

  2. 9 days ago

    [BUSINESS] 7 sources
    Greek stocks join STOXX Europe 600 and FTSE developed market indices

    Greek stocks are seeing major index inclusions in STOXX Europe 600 and FTSE Russell following Greece's upgrade to a developed market, potentially triggering over $1 billion in inflows.

  3. 12 days ago

    [BUSINESS] 5 sources
    Greek stock market prepares for Developed Markets upgrade

    The Greek stock market is set for a major rebalancing on September 18th following an upgrade to the Developed Markets category by FTSE Russell and Stoxx.

  4. 22 days ago

    [BUSINESS] 4 sources
    Greece reclassified as a developed market by FTSE Russell

    FTSE Russell has reclassified Greece from an emerging to a developed market, moving Euronext Athens into the mature market category with new index inclusions effective September 21.

Sources

agronews.gr · banks.com.gr · businessdaily.gr · capital.gr · cretaone.gr · dnews.gr · economix.gr · ecozen.gr · energygame.gr · energymag.gr · fortunegreece.com · hellenicshippingnews.com · ienergeia.gr · makthes.gr · marketnews.gr · mononews.gr · myportal.gr · naftemporiki.gr · newmoney.gr · newsit.gr · ot.gr · powergame.gr · sbctv.gr · serbia-energy.eu · showtime.cy · sofokleousin.gr · tanea.gr · thenewspaper.gr

This summary has been updated 5 times: see revision history