(Reuters) – FTSE Russell on Tuesday said Greece will remain on the equity watch list for possible reclassification from “advanced emerging” to “developed market”, and will be evaluated against certain requirements based on data as of month-end June.
In October, the index provider had put Greek stocks on a watch list for the potential promotion, saying that an “investment grade” rating of its debt was a key requirement, which the country accomplished in March with a Moody’s upgrade.
Major index providers, including Russell and MSCI, had first demoted Greek stocks to “emerging” in 2013, in the aftermath of the global financial crisis.
However, a steady economic improvement since the COVID-19 pandemic and a healthier financials sector have helped the Athens stock index outperform the broader pan-European STOXX 600 and the MSCI emerging stocks index.
FTSE Russell’s next update on the watch list status of Greece will be provided as part of the FTSE Equity Country Classification September 2025 annual review of equity markets.
Market reviews from other index providers, including S&P Dow Jones Indices and MSCI, are due later in the year.
(Reporting by Johann M Cherian and Nishara Karuvalli Pathikkal in Bengaluru; Editing by Alan Barona)
