Cyprus stock market's performance second-best in 2005 among emerging ones
Nicosia, Dec 27 - The Cyprus stock market's performance was second-best in 2005 among the world's emerging ones, with returns of 157%, according to an annual review by Thomson Financial, published in the Sunday Times. The year's best market in this category was Peru's.
This analysis by the financial-information firm underlines the growing importance of these emerging economic powerhouses to investors as well as to trading partners.
The review adds that the populous and fast-growing Bric economies — Brazil, Russia, India and China — produced the four best performances among major stock markets last year.
China was the best-performing major market, the Shenzhen A-share index delivering total returns of 101.7% last year for a dollar investor. The Russian market rose by 65.8%, the Brazilian market by 40.9% and the Indian market by 36.6%.
All these figures are calculated in dollars and also include dividends - thus neutralising currency changes.
The much larger British and American stock markets also performed well last year, but trailed far behind the Bric markets. In dollar terms, the FTSE 100 delivered a total return of 26.3%, making it the 56th best- performing market among the 93 tracked by Thomson. The 14% gain in the S&P 500, the broader American index, ranked 84th.
“Some smaller stock markets did even better than China. Peru was the best performer, producing a 182% gain on the back of its metals industry. Cyprus was next with returns of 157%”, the review notes.
The worst performers included several Middle East stock markets, hurt by the bursting of the oil bubble. Investors in Jordan were the worst hit, suffering losses of 34%. Kuwait, Lebanon, Turkey and Bangladesh also produced negative returns.