Best-performing stock markets in 2025: Poland, Austria, Greece

Global stock markets have seen mixed performance since the start of 2025, with US stocks seeing a major sell-off in April, while European markets have rallied on easing monetary policy from the European Central Bank (ECB) and a rebound in industrial activity in the region.

A visualcapitalist.com analysis shows that US stocks (as measured by the S&P 500 index) were among the worst performers in the world in 2025, according to figures collected through May 13, 2025, based on ETF (exchange-traded fund) returns by country. The data used in the analysis comes from Ycharts, and according to them, many of the world's best-performing stock markets are in Europe, supported by the ECB's recent decision to cut interest rates and the increase in economic activity in the eurozone, boosted by German manufacturing.

According to the source, the best-performing market this year is Poland (+47.6%), followed by Austria (+34.3%), Greece (+32.7%), Spain (+32.5%), Chile (+30%), Colombia (+29.8%), Italy (+27.9%), Germany (+26.2%), Mexico (+26%), Brazil (+25.9%), Finland (+22.6%), Sweden (+21.2%), South Africa (+20.9%), France (+17.3%), Netherlands (+17%), Norway (+16.9%), China (+16.7%), Switzerland (+15.7%), Singapore (+15.4%), Belgium (+14.1%).

• European defense stocks surge

European defense stocks have performed particularly well in recent months, driven by Russia's continued aggression and America's wavering commitment to NATO, the source said.

For example, shares of Rheinmetall AG, Germany's largest defense company, have risen nearly 200% since the start of the year.

Defense spending in Europe is set to rise 17% to $693 billion in 2024, according to data from the Stockholm International Peace Research Institute (SIPRI).

"I strongly believe we will see further increases in the coming years," said Seth Krummrich, vice president of Global Guardian, in this context. "Europe recognizes the need to stand on its own and not rely as much on the United States."