The Athens Stock Exchange (ATHEX) has returned to a significant milestone, reaching 2,000 points for the first time in over 15 years. This achievement marks the end of a long and challenging period defined by an unprecedented economic crisis, a global pandemic, and geopolitical instability in Europe.
While the low of 440 units in 2016 and the 38-day closure due to capital controls in 2015 might feel like distant, unpleasant memories, they serve as a powerful reminder of the sacrifices and reforms that were necessary to get Greece’s economy back on track.
A new chapter for the Athens Stock Exchange
Unlike the last time the General Index was at 2,000 points in April 2010, the current market is supported by several strong catalysts. Foreign investors are no longer leaving, but actively seeking out Greek assets.
There’s a strong prospect of Greece re-entering the “Developed Markets” category within the next 6 to 12 months, with several major rating agencies already placing the ATHEX on their watchlists.
Greek banks have played a crucial role in the recovery, with the sector leading the charge toward the 2,000-point mark.
Greek financial daily, Nafteboriki, notes the overall market is supported by record corporate profitability and generous dividends, which are expected to exceed €5 billion annually. This strong performance, combined with successive corporate deals, is laying the foundation for the next stage of growth.
A timeline of a 15-year journey of ATHEX
The path back to 2,000 points was a dramatic one. The following timeline, compiled by Nafteboriki, highlights some of the most pivotal moments that shaped the ATHEX over the last 15 years:
April 15, 2010: The General Index closes above 2,000 points for the last time before its recent return. The worst of the crisis is still to come.
August 8, 2011: The index falls below 1,000 points for the first time since 1997.
June 5, 2012: Political uncertainty and economic turmoil cause the market to sink to 476 points, a historic low not seen since the late 1980s.
June 26, 2015: In the last session before capital controls and the closure of the stock exchange, the index closes at 797 points.
August 3, 2015: The market reopens after a 38-day shutdown—the longest in its modern history—and immediately plunges by 16% to 668 points.
February 11, 2016: The ATHEX hits its lowest point in decades, plummeting to 440 points.
August 20, 2018: Greece officially exits its bailout programs, with the General Index closing at 712 points.
January 24, 2020: The index reaches 948 points, signaling a period of political and economic stability before the COVID-19 pandemic hits.
March 16, 2020: The pandemic triggers a market crash, with the index falling to 484 points, once again approaching crisis-era lows.
January 26, 2023: The market returns above 1,000 units for the first time since 2014.
March 28, 2025: The index reaches 1,746 points, returning to levels last seen in 2010.
April 7, 2025: A brief setback occurs as US trade tariffs cause the index to retreat to 1,478 points.
August 4, 2025: The Athens Stock Exchange officially closes above 2,000 points, completing its remarkable 15-year journey.
What’s driving the recovery of ATHEX?
The key drivers of the ATHEX’s rally are rooted in political stability and sustained economic growth. Greece’s GDP growth rate is now consistently outpacing the average of the European Union and the Eurozone.
The country’s credit ratings have been upgraded to “investment grade,” moving it out of the “junk” loop and making it more appealing to a wider range of international investors.
The total market capitalization of listed companies now exceeds €140 billion, the highest level since 2008. Meanwhile, the average daily turnover has recovered to a significant €200 million, a level not seen since 2009.
The recovery has also been fueled by the takeover offer by Euronext, Europe’s largest stock exchange group.
Euronext operates markets across Belgium, France, Ireland, Italy, the Netherlands, Norway, and Portugal. It is listed on the Amsterdam Stock Exchange, with transaction clearing based in Rome. The group facilitates trading for approximately two thousand listed companies, with a combined market capitalization exceeding €6.6 trillion.
The Athens Exchange leads the world in 2025 gains
The Athens Stock Exchange is currently on an impressive winning streak, recording highs not seen in the past 15 years and posting steady growth for nine consecutive months.
This positive trend shows that companies listed on the Greek stock exchange are generating strong profits, and a significant amount of share trading activity is occurring.
This booming activity has resulted in a record-breaking period for the Greek market, showing all the signs of a “bull market.” As of July 17, 2025, the Greek stock market is leading the world in gains for 2025, with an impressive increase of 34.86%. This puts it ahead of other strong performers, such as Seoul, South Korea (+33.04%), and Warsaw, Poland (+32.56%).
