“Big money managers have started buying cheap Greek stocks from banks to lotteries as clouds over talks between Athens and its international creditors gradually clear, anticipating big returns. A deal in May when Greece agreed to more austerity measures raised hopes of possible debt relief for a country that has endured economic hardship for years, resulting in the longest winning streak for the Athens bourse in more than two decades,” reports Danilo Masoni for Reuters.
Eurozone and emerging markets stocks are attractively valued relative to the U.S. and those discounts are evident with some of GREK’s holdings. That theme has been prompting investors to revisit the lone ETF trading in the U.S. that is dedicated to Greek stocks.
“Now investors are eyeing Greece’s bond market. It has been reported that Greece will roll out its first sovereign-debt issue in three years in July if its international lenders specify longer-term debt relief for the country, and the European Central Bank includes it in its bond-buying program,” according to CNBC.
For more information on the Greek markets, visit our Greece category.