Greece Aims to Regain Developed Market Status with FTSE Russell Upgrade

Greek stocks could regain developed market status by index provider FTSE Russell this week, a key step in the country's post-debt crisis recovery. The upgrade could bring in $400-1 bln in passive inflows. Other index providers like S&P Dow Jones Indices and MSCI are also expected to follow suit. The move comes as Greece's credit rating improves, with Moody's upgrading its government bonds to investment grade.