ECONOMY

Locals showing renewed faith in Athens Stock Exchange

Individual Greek investors accounted for 40 percent of trading in the nation?s stocks during September, the highest level for the month since at least 2007, according to Athens Exchange Chairman Sokratis Lazaridis.

That?s a 10 percentage point increase from last year, data provided by Hellenic Exchanges SA as of September 28 showed.

Overseas institutions, such as pensions and mutual funds, made up 35 percent last month, down from 46 percent a year ago, based on a statement from the exchange.

?In 2012, we?ve seen an increase in the participation of local investors in trading activity,? Lazaridis said in an interview at Bloomberg?s New York headquarters late on Tuesday.

?It is the first time that local investors have shown more activity than international investors. Confidence starts from the local community.?

[Bloomberg]