2008: year to forget for the stock exchange

Ghana, Tunisia and Ecuador. The three white flies in 'horribilis' bags of the world, the only worldwide who are on track to close in 2008 upwards, bringing exotic names and go on a little beaten in the routes of global investors.
The Ghana Stock Exchange, a strong ride by 60% in local currency (+22.2% in U.S. dollars), unexpectedly gets the scepter undisputed queen of the equity markets, in front of two other outsiders, the bags of Guayaquil (Ecuador, + 5.9% in local currency and in dollars) and Tunis (+5%, 10.6% in dollars). The economy of the African country is increasing and expected benefits related to the discovery of new reserves of oil off the coast. Last year the GDP Ghana, which depend on exports for 41% by gold and 27% cocoa, grew by 6.3% from 3.7% in 2000, according to data from the International Monetary Fund.

If Ghana (which has now elected Chairman John Atta Mills) ride, who was weeping bitterly Iceland, was sunk at the bottom of the rankings of the world Bags under the weight of the failure of its banks. The main index of the Reykjavik stock exchange has lost almost 95% of its value (the 97.2% in dollars). Iceland, which has received 2.1 billion dollars from the International Monetary Fund to avoid default dolorosissimo precedes the poor ranking of the index Sofix the Sofia Stock Exchange, fell by 79.7% (-80.2% in dollars) and the Ukrainian Pfts, a decrease of 77.5% (-83.2% in U.S. dollars). The placement of the top ten worst of 2008 lists these other sees Borse Europe (like the one in Bucharest, the Slovenian and Moscow) to demonstrate that, on the border of Old Europe, the economic crisis, global does more harm and fear than elsewhere.

But also in Western Europe are licking the wounds in what was perhaps the darkest years in the history of the stock exchange. In 12 months have gone up in smoke around 4100 billion euros of capital (-46.9% DJ Stoxx index 600). Among the worst lists of the Old Continent rising Amsterdam (-52.8%) and Milan (-50%). On Mibtel, the general index of Piazza Affari, have lost 353 billion euros of capital, at a rate of almost 1 billion per day. Male also Paris (-43.9%) and Frankfurt (-41.4%) while the list was the best of London (-33%). The view is depressing if you enlarge the view to the epicenter quell'America Crisis (New York has seen the Dow Jones dropped by 35.8% and the Nasdaq 42.3%) and, especially to Asia. Tokyo, already poor last year, has sold another 42.9%. Even the Asian tigers, Hong Kong (-48.5%) to Seoul (-41.1%), Taiwan (-48.1%) to Singapore (-48.6%) are in retreat. In the shade of the giant Chinese who had to helplessly falling prices in Shanghai (-64.8%) and Shenzhen (-60.9%).

Related posts

• S & P MIB levels 13 years ago (0)
• Oil dropped $ 88 (0)
• Black Monday for the scholarships. Dow jones share in 7000 (0)
• European stock markets fly high (0)
• Markets crisis, Iceland takes control of the first bank (0)