![Athens Stock Exchange (ASE) 4th Best Performer in World](https://www.ot.gr/wp-content/uploads/2024/02/shutterstock_773549116-1-2048x1367-1.jpg)
The Athens Stock Exchange General Index (ASE) continued its excellent run into 2024, after an impressive show in 2023 among the world’s top stock markers, as it came in 4th in January, according to data from Deutsche Bank, and Bloomberg Finance. The Athens Stock Exchange witnessed 5.74% gains at the end of the first month of 2024.
The steady position of the Athens Tock Exchange mirrors the rising confidence of investors in Greece following the recent upgrades of the economy to an investment-grade level and the government’s commitment to continuing its structural reform policies.
As the monthly data compiled by Deutsche Bank revealed, despite the S&P reaching historic highs towards the end of the month, January was a mixed month for markets because financial indicators showed a somewhat divergent performance.
There was an upside observed in economic indicators reflecting a steady rise in stock gains from late 2023, and the S&P 500 reached a new all-time high. However, as the German bank notes in its analysis, geopolitical concerns and challenges are still present, especially due to attacks by Houthi rebels on commercial shipping in the Red Sea. Furthermore, government bonds also lost ground as investors scaled back expectations for central bank interest rate cuts in the first quarter.
Several developments occurred in January for the markets, but one significant aspect was that hopes for a soft landing of the U.S. economy persisted, indicating that risk assets maintained their momentum from November and December.
Similarly, in the Eurozone, although growth was weaker, the economy unexpectedly avoided a technical recession in the fourth quarter, as GDP remained unchanged, instead of contracting by -0.1% as expected, according to Deutsche Bank.
Source: tovima.com
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