{"id":19259,"date":"2020-02-26T21:32:53","date_gmt":"2020-02-26T19:32:53","guid":{"rendered":"https:\/\/bestinsurance.gr\/a1\/?p=19259"},"modified":"2020-02-26T21:32:53","modified_gmt":"2020-02-26T19:32:53","slug":"worlds-best-stocks-of-2019-are-already-europes-worst-this-year","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/19259","title":{"rendered":"World\u2019s Best Stocks of 2019 Are Already Europe\u2019s Worst This Year"},"content":{"rendered":"
World\u2019s Best Stocks of 2019 Are Already Europe\u2019s Worst This Year<\/div>\n
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  • Greek stocks wipe out about a third of last year\u2019s advance<\/li>\n
  • Concerns grow that coronavirus may hit tourism industry<\/li>\n<\/ul>\n<\/section>\n
    By\u00a0Tugce Ozsoy\u00a0and\u00a0Filipe Pacheco(Bloomberg) —<\/p>\n<\/section>\n
    Investors who made a killing betting on Greek stocks last year are rushing for the exit amid concern the spread of coronavirus could dent the country\u2019s tourism industry.The exodus from the\u00a0Athens Stock Exchange\u00a0has already wiped out about a third of its world-beating advance in 2019 and dragged the\u00a0index down more than 10% this year. It\u2019s now the worst-performing equity gauge in Europe. On Wednesday, a 38-year old\u00a0woman was hospitalized in the northern city of Thessaloniki, the\u00a0first confirmed case\u00a0of the virus in Greece.<\/p>\n

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    While the trajectory of the epidemic remains uncertain, the knee-jerk reaction for investors who flocked into Greek equities last year has to been to take some risk off the table. Tourism and travel receipts account for a fifth of the Mediterranean country\u2019s economic output, according to latest data from the World Travel and Tourism Council.<\/p>\n

    The Athens stock index posted a 49% surge in 2019, fueled by one of the most attractive valuations in emerging markets and the promise of tax cuts and pro-business policies by a new government. Greece still faces major\u00a0challenges, including a weak banking sector, high unemployment and a large stock of public debt, the European Commission warned on Wednesday.<\/p>\n

    \u201cGiven the performance that we had last year, it is pretty easy to lock in some profit taking,\u201d said\u00a0Dimitri Dardanis, the head of institutional equities at Piraeus Securities in Athens. \u201cYou can\u2019t escape what is happening elsewhere. You have to ride the wave and, at the moment, there is not much to do.\u201d<\/p>\n

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    The Athens bourse was the second worst-performing equity index in February among 94 gauges tracked by Bloomberg, outstripped only by Lebanon. The losses this week were led by Piraeus Bank, which retreated 16%, followed by Coca-Cola HBC, Titan Cement International SA and Hellenic Telecommunications Organization SA.<\/p>\n

    \u201cThe fact that this is an unfolding story that people are being surprised by, it is not easy to predict what it is going to do to tourism,\u201d Dardanis said. \u201cGlobally there is an issue that people do not want to fly. When that is going to impact us is still unknown.\u201d<\/p>\n<\/section>\n

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    World\u2019s Best Stocks of 2019 Are Already Europe\u2019s Worst This Year Greek stocks wipe out about a third of last year\u2019s advance Concerns grow that coronavirus may hit tourism industry By\u00a0Tugce Ozsoy\u00a0and\u00a0Filipe Pacheco(Bloomberg) — Investors who made a killing betting on Greek stocks last year are rushing for the exit amid concern the spread of<\/p>\n","protected":false},"author":1,"featured_media":19260,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[],"class_list":["post-19259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=19259"}],"version-history":[{"count":2,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19259\/revisions"}],"predecessor-version":[{"id":19263,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19259\/revisions\/19263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/19260"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=19259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=19259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=19259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}