Bank of America: Greece remains among top markets but geopolitical risk increases

In terms of valuations, BofA points out that the markets in the region show significant differences. Some countries, such as Turkey, appear particularly cheap based on the P/BV ratio, while other markets trade at higher levels due to stronger profitability prospects.

For Greece, valuations remain attractive compared to their historical course, although the significant rise of the market in recent years has limited some of the discount that existed in the past.

According to the BofA report entitled "South Africa at the top before the storm" and dated March 5, 2026, the region's markets have recorded significant capital inflows in the first months of the year, which has strengthened investment momentum but at the same time increases the risk of volatility in the event of a deterioration in the geopolitical environment.