LONDON — 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.
Since June 5, 2012, two weeks before MSCI Inc. gave notice it may reclassify Greece as an emerging market, the country’s ASE index has surged 146 percent, trimming the decline from its 2007 peak to 79 percent. The gains topped all 94 national benchmarks globally in the period, except Venezuela, according to data compiled by Bloomberg. Yields on Greece’s 10-year government bonds have dropped to 8.31 percent from a peak of 33.7 percent in March 2012.
Paulson & Co. and JPMorgan Chase & Co. have bought shares as emerging market funds Full story for BostonGlobe.com subscribers.