Greek stocks, once shunned by investors concerned that a default would force the nation out of the euro, are beating almost every market in the world as a six- year recession eases and new investors consider purchases.
European stocks were little changed this week as better-than-expected economic data from China and the U.S. offset concern that debt-ceiling talks will weigh on recovering growth in the world’s biggest economy.
U.K. stocks slid after the European Commission cut its growth forecast for Britain’s largest export partner and as concern over an impending U.S. fiscal crisis overshadowed the re-election of President Barack Obama.
European stocks dropped, paring their biggest monthly gain since July 2009, as some investors remain reluctant to buy equities before the euro area’s leaders explain how they will fund their expanded bailout facility.
The four-month rally in Greek shares that turned the ASE Index into the most expensive national benchmark in western Europe is ending as lawmakers squabble over austerity measures needed to ensure the flow of bailout funds.