Greece ETF Leads Post-Holiday Europe Charge

ETF Trends

European stocks are playing catch-up after a two-day Christmas break, with Greek stocks and related exchange traded fund leading charge.

The Global X FTSE Greece 20 ETF (GREK) rose 4.3% Friday. GREK is up 10.7% over the past three months and up 19.3% year-to-date.

Despite a 2.1% pullback over the past month, GREK still ranks among the best single-country Europe ETFs this year. [10 Best Global Equity Markets By Single-Country ETFs]

European stocks were higher Friday after a two-day Christmas close.

“Stock markets are indeed seeing a little Christmas rally,” John Plassard, vice president at Mirabaud Securities LLP, said in a Bloomberg article. “Yesterday’s better-than-expected U.S. jobless claims numbers extend the positive sentiment we’ve been seeing. Without major economic data out today, we should be facing a fairly quiet session.”

European stocks also strengthened as the euro currency strengthened. The euro traded as high as $1.3893, more than a two-year high, reports Barbara Kollmeyer for MarketWatch.

The CurrencyShares Euro Trust (FXE) was up 0.3% Friday.

Looking ahead, European Commissioner for the Internal Market, Michel Barnier believes the Greek economy will not only recover but will be in a very advantageous position, reports Nikoleta Kalmouki for Greek Reporter.

Global X FTSE Greece 20 ETF

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For more information on Greece, visit our Greece category.

 

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