Stock market rally june 2016
By Alexander Jones , International Banker. In terms of stock-market appreciation, largely belonged to emerging markets. The three countries to post the largest gains were Peru, which returned 90 percent over the year; Russia, which gained Indeed, the market lost a whopping 35 percent during the nine months to January To recap, Brazil is currently enduring its worst recession in modern times.
Moreover, the economic, investment and political climate was overshadowed by a deep corruption scandal involving state-run oil company Petrobras and high-ranking officials; its president faced impeachment; and the country was home to the notorious Zika virus.
The Petrobras scandal triggered a major setback for the stock market and prevented Brazilian companies from issuing debt for several months, while the introduction of a financial-transactions tax significantly contributed to an exodus of investor funds.
So what has changed? For one, the ousting of Dilma Rousseff finally came to fruition last year. Indeed, the very fact that the new government is trying to limit government spending through badly needed expenditure curbs and pension reforms has helped to bring much investor confidence back to Brazil.
Indeed, the economy is expected to end its recession this year and return to positive growth territory, with seeing 0. The reduction in inflation has been one of the most encouraging signs, with the rate declining almost consistently throughout , from the year high above 10 percent in January to just over 5 percent one year later.
The rally in commodity prices has also bolstered stock markets across the world, most notably in emerging economies. Brazil has been no exception; indeed, gains in oil and iron-ore prices in particular during were crucial in boosting Bovespa, especially given that commodity producers constitute more than a quarter of its capitalisation.
With the worst seemingly over for the beleaguered Petrobras, the oil company climbed by more than percent during the year as global crude prices recovered. It also managed to reduce its mountain of amassed debt by agreeing to sell one of its gas-distribution networks, as part of an overall divestment strategy. GDP and trade figures continue to improve, interest rates are falling and inflation continues to trend downward. Brexit, Trump, a slowing China and a stagnant Europe have created a general climate of uncertainty in financial markets, and have thus given little option to global equity investors in search of satisfactory returns.
The longer such global problems persist, therefore, the more likely it is that Bovespa will remain elevated, more so should commodity prices continue on their upward trajectory from last year. That being said, the promise of further monetary tightening by the US Federal Reserve could see funds swiftly exiting emerging markets and heading to the US.
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Are Australian Bank Lending Practices Creating a Property Independence of Central Banks Under Threat. By Alexander Jones , International Banker In terms of stock-market appreciation, largely belonged to emerging markets. March 21st, by internationalbanker. Bovespa Brazil Brokerage Latin America Stock Market. How to Use Company Culture as an Organizational Catalyst for Brand Transformation.
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