Few signs of upside left in Greek stock market

The transformation of Greece from an emerging to a developed market is not being accompanied by positive prospects for the stock market. It remains out of favour with Europe and emerging market investors and has fallen sharply in the first part of the year. The Athens Stock Exchange (ASE) Composite Index returned a negative 18.5% in dollar terms over the first quarter of 2000. The FTSE/ASE 40 Index fell 35.5%, while the composite index shed 50.8% of its value. However, the blue chips have outperformed the local market over the same period with the FTSE/ASE 20 index falling 12.2% in doll...