S&P Proposal to Reclassify Athens Stock Exchange as ‘Developed Market’ Marks Historic Breakthrough

A Defining Moment for the Greek Capital Market

The Athens Stock Exchange Group (ATHEX) on Friday welcomed the announcement by S&P Dow Jones Indices (S&P DJI) proposing the reclassification of the Greek stock market from an Emerging Market to a Developed Market, effective September 2026.

The decision marks a major step forward for the Greek financial ecosystem, reflecting years of structural reform, macroeconomic stabilization, and a renewed international investor appetite for Greek equities.

ATHEX CEO: “A Historic Milestone”

Reacting to the news, Yianos Kontopoulos, CEO of the Athens Stock Exchange Group, said:“The proposal by S&P DJI to upgrade Greece to a developed market is a historic milestone for the Athens Stock Exchange and our economy as a whole. It confirms our consistent strategy to upgrade the market and enhance its attractiveness.”

He emphasized that this milestone is expected to boost investor confidence, attract long-term international capital, and open up new opportunities for companies listed on the Athens Exchange.“We are committed to working intensively to fully capitalise on this important step, for the benefit of all market participants and the national economy,” he added.

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Greece’s Market Evolution Backed by Solid Fundamentals

S&P DJI cited several key drivers behind its decision:

• Consistent economic recovery following the debt crisis
• Coordinated reforms with EU, ECB, and IMF institutions
• Rising exports and foreign direct investments (FDI)
• Stronger banking system with reduced non-performing loans
• Improved public debt-to-GDP ratio

These trends indicate that Greece’s financial infrastructure and regulatory framework are increasingly aligned with international standards for developed markets.

Broader Access to Institutional Capital

Once the upgrade is finalised, Greek equities are expected to become eligible for a wider pool of capital, including funds and institutional investors that only invest in developed markets. This could result in higher liquidity, more IPOs, and stronger valuations for Greek-listed companies.

Moreover, this shift could elevate Greece’s role in global indices, increase its visibility in international portfolios, and help the country attract sustainable, long-term investment flows.

S&P DJI First to Set Upgrade Date — FTSE Decision Pending

S&P DJI is the first of the three major index providers to set a firm timeline for Greece’s upgrade. The reclassification will be included in the agency’s September 2026 index review.

Meanwhile, FTSE Russell is also expected to announce its decision on the Greek market’s status later this year, following its April 2025 watchlist placement.

Outlook: Strategic Leverage for Growth

The upcoming market status change represents more than symbolic progress. It provides tangible leverage for:

• Deepening market participation
• Encouraging corporate transparency and governance
• Supporting economic diversification and innovation

With Greece’s macroeconomic outlook remaining positive and market infrastructure modernizing rapidly, the country appears poised to reassert itself as a mature and investable market destination in Europe.

As September 2026 approaches, all eyes will be on Greece to see how the country capitalizes on this unprecedented opportunity to reshape its financial future.

Source: pagenews.gr