Despite the positive reports that have seen the light of day for the Greek stock market, Goldman Sachs places it in the... "bears". It maintains a neutral stance and expects the General Index to reach 1,475 points, lower than current levels. It is worth noting that Goldman Sachs in general maintains a cautious stance towards the domestic market.

WHAT IT FORESEES

"We expect a 4% decline this year in the earnings per share of the companies that make up the General Index and a 2% increase in 2026. The expected dividend yield of 8% raises the total expected return of the General Index in dollar terms to 5%, which is why the recommendation is neutral," the analysts note.

THE BARRIERS

The thorns for the growth of the GC are the rally already recorded by the HA, while the anemic growth in the Eurozone, the situation in the French and German economies, the resurgence of inflation and the war in Ukraine are creating clouds over the Old Continent. Into the equation comes the risk of Trump imposing tariffs which will further complicate the situation.

PORTFOLIO DIVERSIFICATION

Analysts recommend a diversified portfolio with risk-sharing for investors and a focus on the financial fundamentals of listed companies. Goldman Sachs has a positive recommendation on China, Indonesia, the Philippines, South Africa and Saudi Arabia, and a preference for Chile in Latin America. Finally, it upgrades its recommendation on Turkish equities.