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Global Stock Markets 2010:
Among the big countries, Germany and US were in the lead while shares in China
In Europe, the German Dax rose 16%
in the year; the FTSE 100 climbed 9.2%; France's CAC 40 fell 3.3%; Italy's FTSE
MIB tumbled 13.2%; Portugal's PSI 20 dropped 10.3% and Spain's IBEX 35 fell
Greece's Athex Composite plunged
In New York, the Dow Jones
Industrial Average gained 11% in the year. The S&P 500 ended the year up 13%,
while the Nasdaq jumped 17% in 2010 -- the second-straight year of gains for US
In Asia, China's Shanghai Composite
dipped 14.3% in 2010; Japan's Nikkei posted a 3% drop for 2010.
Argentina's market closed up 82%
followed by Thailand's at 70% and the Ukraine at 68%.
Gold rose from $1,096.95 in 2010 to $1,420.78 on Friday in New York. The US
crude oil benchmark climbed from $79.86 a barrel to $91.38 a barrel on Friday,
after jumping 78% in 2009.
The New York Times reports that US
shares were underpinned by strong earnings, but in what is likely to be a worry
for next year, the profits were bolstered by job cuts and other restructuring
efforts, rather than revenue growth.
In the third quarter of the year, for example, earnings were 31% higher than
last year, but revenue increased by just 8%. The disparity was even greater in
the first quarter, as earnings jumped 58% but revenue rose only 11%.
report by the London Business School and credit Suisse says only seven of
the 38 countries with equity markets in 1900 changed status over the following
Five markets moved from emerging to
developed: Finland, Japan and Hong Kong plus, more recently, Portugal and
Greece. Two moved from developed to emerging: Argentina and Chile. Of the
remaining 31 countries, 17 would have been deemed developed in 1900 and remain
developed today, while 14 were emerging and are still in that category 110 years
Singapore, whose stock market opened
in 1911, has also moved from emerging to developed status. This gives a total of
six promotions over 110 years, plus Israel and Korea, currently in transition.
The authors say while most countries have grown considerably in terms of GDP per
capita, their relative rankings on this metric have changed far more slowly.
Robert Shiller, professor at the Yale School of Management, reveals his 2020 target for the S&P 500:
It's going to be a much tougher year for emerging markets next year, Jim Walker, founder and CEO of Asianomics, told CNBC Friday: