Investors see positive prospects in Greek stock market this year

After a difficult and turbulent 2018, the Greek stock market has been savoring its best four-month period since 1999, with only four sessions left till the end of April. The benchmark at Athinon Avenue has recorded gains of 26.92 percent since the start of the year, which is the second highest return in the world after the main bourse in China.

The main factor in the impressive course of the Athens Exchange (ATHEX) has been bank stocks, whose index has rallied some 70 percent from the historic lows recorded at end-January. According to stock analysts, while a small price decline would not come as a surprise, bank stocks' prospects in the long term remain positive.

As Wood & Company said in a recent analysis, Greek banks deserve higher valuations, which is why it has maintained its "buy" recommendation. UBS added that investors' view of Greece has shifted remarkably...