Emerging markets have good December
The world’s emerging and developed markets continued to post positive returns in December and for all of 2006 as oil prices remained low.
Friday, January 12th 2007, 5:22AM
“2006 became a banner year for shareholders, as most markets continued to gain in December,” says Howard Silverblatt, Senior Index Analyst at Standard & Poor’s. “Oil prices stabilised and broke under the $60 mark, as warmer weather decreased demand.”
In December, 24 of the 27 developed markets posted an average gain of 4.29%, with declines in Canada (-0.54%), Iceland (-0.35%) and South Korea (-0.01%). The emerging markets posted gains in 22 of the 26 markets with an average of 6.30%. The declines were more substantial in the emerging markets with Israel (-1.53%), Jordan (-3.00%), Pakistan (-6.40%) and Thailand (-9.24%).
For the year, all 27 developed markets gained with an average of 35.15%, while 23 of the 26 emerging markets gained an average of 45.46%. The markets that were down for the year include Israel (-3.46%), Jordan (-35.56%) and Turkey (-2.04%).
Eight out of the 10 sectors showed gains in December, with telecommunications as the best-performing sector gaining 3.65%, and energy as the worst with a 1.47% decline. For 2006, utilities was the best sector with 36.92%, while information technology was the worst at 9.49%.
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