BUSINESS

Foreigners bring ever more funds to local bourse

By Anestis Dokas

The flow of funds into the Greek stock market from abroad has been constantly increasing since the fears of a Greek exit from the eurozone subsided. In the last 16 months (August 2012 - December 2013), some 2.44 billion euros in foreign funds has been invested on the Greek bourse, meaning that foreign investors now control 49.6 percent of the local market.

Since November 2012 foreign investors have remained net buyers, after a period of three years (November 2009 - October 2012) when they had sold shares totaling 2 billion euros.

The month with the best performance by foreigners was October 2013, when they spent 926.29 million euros, while Greek investors were net sellers, with an outflow of 883.26 million. The trend continued in the last couple of months last year, leading Greeks to controlling just 48.4 percent of local shares, against the foreigners’ 49.6 at end-2013.

December also saw a remarkable 123.5 percent annual increase in overall trading volume, reaching 2.16 billion euros.

Online