Economy / Macedonia
If you would like to subscribe to Emerging Markets Monitor and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Emerging Markets Monitor please click on the trial link below.
PFTS and MBI-10: Two Markets To Avoid
June 2008 | Market StrategySorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Emerging Markets Monitor and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Emerging Markets Monitor please click on the trial link below.
Since Q307, emerging Europe frontier equities have generally been assets to avoid, with tightening credit markets, rising energy input costs for key industrial sectors and jittery investor sentiment prompting double-digit percentage losses across almost every major index in the region. Asset bubbles leading up to the credit crunch, where price-earnings ratios in some cases hit triple-digits and market capitalisation came close to 100% of GDP certainly contributed to the tremendous downside seen in recent months.