Emerging markets were again the big story of 2007 with the BRIC countries - Brazil, Russia, India and China - posting impressive stock market gains while the worst performers among 90 global indexes tracked by Bloomberg, were Venezuela, which lost over 27% in 2007 and the Irish market, which was the runner up with a loss of over 26%.
Asian stock markets had a strong but volatile year with China leading the world in performance. Several exchanges posted gains of more than 20% in the region with only Japan and New Zealand recording losses.
The MSCI Asia Pacific Index rose 12%. However, the annual rise was 32% in MSCI's index of non-Japan Asia Pacific shares, which includes the high-growth markets of India and China.
China's CSI 300 benchmark, which tracks the performance of the top 300 companies on the Shanghai and the Shenzhen stock exchanges, surged more than 161% in the past 12 months. The Hang Seng China Enterprise Index, which was launched in 1994 as a benchmark for the stock price performance of China-incorporated companies listed in Hong Kong, rose more than 54% in 2007. The Hang Seng rose 39%.
The Bombay Stock Exchange's Sensitive Index gained 47% while in Korea, the KOSPI index recorded its fourth double-digit percentage gain in five years with a rise of 32%. Investors in Malaysian stocks had another record year in 2007, with the KL Composite Index (KLCI) posting its biggest annual rise since 1999 and a second straight year of double-digit gains. The KLCI advanced 31.8% in the year. Singapore's Straits Times index rose 16.6%. Australian shares closed the year up 11.8% - the fifth consecutive year of gains. The benchmark S&P/ASX 200 index posted its smallest annual gain in four years, declining after being up about 21% when it hit a high of 6,851.5 in November.
New Zealand's NZX-50 index fell 0.3% while Japan's Nikkei 225 index fell 11%.
In Latin America, Brazil's Bovespa index of most-traded shares on the Sao Paulo exchange, surged 44%, in a fifth year of gains.
Chile's IPSA index rose 13% while in Colombia, the IGBC index had its first annual decline in six years. Peru's Lima General index rose 36% in 2007, its sixth straight annual gain.
Mexico's Bolsa index jumped 48% last year.
In Europe, the Dow Jones Stoxx 600 Index posted its first annual fall since 2002, with a loss of 0.2%.
FTSE 100 index in London closed Monday at 6,456.90, recording a rise of 3.8% in 2007. Germany's DAX was the best performer in Western Europewith a rise of 22% while France's CAC 40 added 1.3%. In Madrid, the IBEX 35 index has ended its fifth consecutive year of gains with an increase over the year of 7.3%. The growth is down on 2006 when it was 32%, and also on 2005 when it was 18%.
In Eastern Europe, Estonia's OMX Tallinn index, lost more than 13% while Russia�s MICEX stock index expanded 11.5% in 2007. In 2006, the index grew 67.5%.
In New York, the Dow Jones Industrial Average rose 6.4% compared with a 16.39% advance in 2006. The Dow posted its worst fourth-quarter fall in 20 years. The Nasdaq Composite rose 10% in 2007 while the S&P 500 advanced almost 4%.
The Russell 2000 index of smaller companies fell almost 3% in 2007.
In South Africa, the JSE All-Share Index rose 16% in 2007.
The Zimbabwe Stock Exchange (ZSE) is reported to have grown by a record 322,111%. The industrial index gained almost 4% on Monday to 1,911,538,281.84 points, the state-controlled Herald newspaper said.
The mining index put on a record 20.83% to 2,363,257,849,25 points to close the year with a 477,752% gain.
The Herald reported that most analysts do not expect a dramatic change in the coming year as the stock market will continue tracking asset price inflation with "company earnings in the current environment failing give a true picture of how much a company is really worth."
The official rate for the Zimbabwean dollar (ZWD) is 30 000.00 per US$1. The Reserve Bank says that inflation in the year to September was7,982.1%.
South Africa's Mail & Guardian reported that Zimbabweans formed queues at banks on Saturday to beat a December 31 deadline to hand in a currency series phased out by the central bank.
Reserve Bank chief Gideon Gono declared that the Z$200,000 note would become worthless as he introduced three new banknotes in a bid to tackle a shortage of the local currency in the country.
Depositors wishing to withdraw scarce cash and those handing in the expiring bills formed parallel queues in banks in the capital as the central bank ordered banks to extend business hours on Saturday and Sunday.
 |
| Irish drugs firm Elan, which was founded by Italian-American chemist Don Panoz in 1969, bucked the negative sentiment towards Irish shares in 2007 because of the potential that the multiple sclerosis drug Tysabri provides the loss-making firm. The chart above tracks the 2007 movement of Elan's share price on the New York Stock Exchange. |
Irish Stock Market
The Irish stock market shed €26 billion in value in 2007 - one of the worst performances since its foundation in 1793.
The ISEQ closed on Monday at 6,934, down from 9,408 at the beginning of 2007 and its record close of 10,041 in early February.
The ISEQ financial index lost €19.2 billion in value as foreign holders who own almost two-thirds of the shares in Ireland's biggest companies, reacted to the contracting residential property market.
AIB lost almost €6 billion, or 31%; Anglo Irish Bank shed €4 billion; Bank of Ireland lost 41% of its value and Irish Life & Permanent plunged 43%. Building materials multinational CRH, fell 24% or �4 billion.
Beverage company C&C was hit by a grim summer and increased competition, which impacted UK cider sales maker, and the shares fell more than 69%. Aer Lingus shares closed on Monday at €2.09, a fall of 23% in 2007.
Elan bucked the trend in 2007 and rose by a third.
| Irish Stock Exchange |
Symbol |
Last Trade 31/122007 |
|
|
| |
|
Year High |
Year Low |
| ABBEY PLC |
ABBY.I |
6 |
|
|
|
|
12.21 |
5.54 |
| AER LINGUS |
AERL.I |
2.09 |
|
|
|
|
3.35 |
1.9 |
| AGI THERAPEUTICS LTD |
A9I.I |
1.505 |
|
|
|
|
2.01 |
1.1 |
| ALLIED IRISH BK |
ALBK.I |
15.671 |
|
|
|
|
24.39 |
12.82 |
| AMARIN CORP |
AMRN.I |
0.218 |
|
|
|
|
3.19 |
0.19 |
| AMINEX PLC |
AMNX.I |
0.34 |
|
|
|
|
0.405 |
0.24 |
| ANGLO IRISH BANK PLC |
ANGL.I |
10.94 |
|
|
|
|
17.85 |
8.635 |
| BANK OF IRELAND |
BKIR.I |
10.192 |
|
|
|
|
18.83 |
8.799 |
| BLACKROCK INT LAND |
B8L.I |
0.33 |
|
|
|
|
0.61 |
0.29 |
| BOUNDARY CAPITAL |
BOCA.I |
0.56 |
|
|
|
|
1.235 |
0.44 |
| C&C GROUP PLC |
GCC.I |
4.1 |
|
|
|
|
14.03 |
3.51 |
| CPL RES PLC |
DQ5.I |
4.8 |
|
|
|
|
8.3 |
4.5 |
| CRH PLC |
CRH.I |
23.85 |
|
|
|
|
38.2 |
21.92 |
| DATALEX |
DLE.I |
0.65 |
|
|
|
|
1 |
0.56 |
| DCC PLC |
DCC.I |
19.272 |
|
|
|
|
28.03 |
16.57 |
| DONEGAL CREAMER |
DQ7.I |
6.3 |
|
|
|
|
7.16 |
4.65 |
| DRAGON OIL |
DGO.I |
4.75 |
|
|
|
|
4.9 |
2.31 |
| ELAN CORP PLC |
ELN.I |
14.792 |
|
|
|
|
17.99 |
8.86 |
| FBD HOLDINGS PLC |
FBD.I |
25.25 |
|
|
|
|
43.2 |
17.84 |
| FIRST DERIVATIVES |
FRST.I |
3.93 |
|
|
|
|
4.88 |
3.539 |
| FYFFES PLC |
FFY.I |
0.94 |
|
|
|
|
1.26 |
0.72 |
| GETMOBILE EUROPE |
GETM.I |
0.14 |
|
|
|
|
0.205 |
0.12 |
| GLANBIA PLC |
GL9.I |
4.64 |
|
|
|
|
5.12 |
3 |
| GLENCAR MINING |
GN2.I |
0.101 |
|
|
|
|
0.195 |
0.1 |
| GRAFTON GROUP PLC - UTS |
GRF_u.I |
5.449 |
|
|
|
|
13.1 |
5.18 |
| GREENCORE GROUP |
GNC.I |
4.48 |
|
|
|
|
5.67 |
3.9 |
| HORIZON TECH GRP |
HOR.I |
0.74 |
|
|
|
|
1.17 |
0.73 |
| IAWS GROUP PLC |
IAW.I |
15.05 |
|
|
|
|
21.25 |
11.351 |
| ICON PLC |
ICON.I |
44.7 |
|
|
|
|
44.7 |
28.64 |
| IFG GROUP PLC |
IFG.I |
1.625 |
|
|
|
|
2.42 |
1.33 |
| INDEP NEWS & MED |
INME.I |
2.369 |
|
|
|
|
3.91 |
2.051 |
| IONA TECH PLC |
IONA.I |
2.5 |
|
|
|
|
4.65 |
2.25 |
| IRISH CONTL GRP |
ICG_u.I |
22.05 |
|
|
|
|
26.455 |
14.01 |
| IRISH LIFE & PER |
IPM.I |
11.81 |
|
|
|
|
23.09 |
10.9 |
| IRISH SE INDEX |
.ISEQ |
6934.35 |
|
|
|
|
10364.79 |
6281.22 |
| ISEQ 20 ETF SHARES |
IETF.I |
13.39 |
|
|
|
|
19.96 |
12.22 |
| KENMARE RES |
JEV.I |
0.74 |
|
|
|
|
1.02 |
0.61 |
| KERRY GROUP-A |
KYGa.I |
21.7 |
|
|
|
|
23.089 |
17.74 |
| KINGSPAN GROUP |
KSP.I |
10.35 |
|
|
|
|
22.86 |
9.8 |
| LAPP PLATS PLC |
LPP.I |
0 |
|
|
|
|
0.24 |
0.24 |
| MCINERNEY HLDGS |
MCI.I |
1.39 |
|
|
|
|
3.34 |
0.98 |
| MERRION PHARMACEUTICALS |
3MP.I |
4.4 |
|
|
|
|
4.4 |
4.1 |
| MINMET PLC (ISE) |
MNT.I |
NaN |
|
|
|
|
NaN |
NaN |
| NEWCOURT GROUP PLC |
NEW.I |
1.13 |
|
|
|
|
1.85 |
1 |
| NORKOM GROUP PLC |
NORK.I |
1.88 |
|
|
|
|
2.19 |
1.45 |
| OGLESBY & BUTLER |
OGB.I |
0.19 |
|
|
|
|
0.25 |
0.17 |
| ORIGIN ENTERPRISES |
OGN.I |
3.8 |
|
|
|
|
4.08 |
2.96 |
| ORMONDE MINING PLC |
ORM.I |
0.15 |
|
|
|
|
0.225 |
0.12 |
| OVOCA RESOURCES |
OVG.I |
0.2 |
|
|
|
|
0.23 |
0.11 |
| PADDY POWER |
PAP.I |
22.51 |
|
|
|
|
28.95 |
14.85 |
| PETROCELTIC INTL |
PCI.I |
0.12 |
|
|
|
|
0.25 |
0.098 |
| PETRONEFT RESOURCE |
PTR.I |
0.46 |
|
|
|
|
0.95 |
0.36 |
| PRIME ACTIVE CAPITAL PLC |
PACC.I |
0.86 |
|
|
|
|
2.25 |
0.6 |
| PROVIDENCE RESOURCES |
PRR.I |
0.086 |
|
|
|
|
0.121 |
0.068 |
| QUALCERAM PLC |
QLC.I |
0.95 |
|
|
|
|
2.5 |
0.9 |
| READYMIX PLC |
RYX.I |
1.6 |
|
|
|
|
3 |
1.53 |
| RYANAIR HLDGS |
RYA.I |
4.667 |
|
|
|
|
6.38 |
4.32 |
| SITESERV PLC |
SSV.I |
0.33 |
|
|
|
|
1.44 |
0.33 |
| SMURFIT KAPPA GROUP PLC |
SKG.I |
11.193 |
|
|
|
|
20.88 |
10.71 |
| THIRDFORCE PLC |
THF.I |
0.16 |
|
|
|
|
0.3 |
0.15 |
| TOTAL PRODUCE ORD EUR0.01 |
T7O.I |
0.59 |
|
|
|
|
0.9 |
0.58 |
| TRINITY BIOTECH |
TRIB.I |
1.46 |
|
|
|
|
2.18 |
1.52 |
| TULLOW OIL |
TLW.I |
8.87 |
|
|
|
|
9.85 |
5.08 |
| TVC HLDGS PLC |
TVCH.I |
1.22 |
|
|
|
|
1.6 |
0.9 |
| ULSTER TELEVISION |
UTV.I |
3.5 |
|
|
|
|
6.87 |
3 |
| UNITED DRUG |
UDG.I |
3.95 |
|
|
|
|
4.35 |
3.1 |
| VERIS PLC |
VERI.I |
1.8 |
|
|
|
|
4.85 |
1.8 |
| WATERFORD WED-UT |
WTF_u.I |
0.02 |
|
|
|
|
0.085 |
0.015 |
| ZAMANO PLC |
ZMNO.I |
0.43 |
|
|
|
|
0.56 |
0.32 |
| |
|
|
|
|
|
|
|
|
