The Top Top 10 Emerging Market Equity Returns in 2008 is shown below in this colorful chart from Lazard. Also listed below is the top 5 best and worst performing markets in 2008.
1.Top 10 Emerging Market Returns Chart (1993-2008):
Morocco, Colombia and Israel were the three top countries.
2. The Top 5 Best and Worst Performing Countries Chart (Click to Enlarge):
Last year Pakistan was the worst performer with a loss of 74%.
Source: Lazard
1.With unemployment soaring, many European Union countries want the migrant workers they once attracted to go home as quickly as possible. They are sparing no expense or effort to encourage them to leave. Europe Falls Out of Love with Labor Migration
2. Interactive Map: How is the economic crisis affecting the European Union? This map shows the figures for all the member states by year and quarter and let’s you compare budget deficit, unemployment rate, national debt and economic contraction. Economic crisis in European Union
3. Housing Starts: Is this the Bottom? -The title to this post would have been laughable in 2008 or 2007, but as I noted in Looking for the Sun, there is a reasonable chance housing starts will bottom sometime this year – so I suppose it is not too early to start looking.
4.The International Monetary Fund has predicted that the downturn in the UK will be deeper than anyone previously feared – and that it will last through 2010. IMF: UK recession ‘will be worst of all’
5.Lower debt levels and comparatively low rates of bad loans mean that even the poorer Latin American countries are faring better than their developed counterparts when it comes to exposure to the financial crisis. Latam rides high as debt remains low
Here is a list of all the ADRs Traded in the US Exchanges in Excel format for download. Includes only sponsored ADR stocks in the organized exchanges. Has a few preferreds also.
Download: List of ADRs Traded in the US Exchanges (click on link to open in Excel)
1.Ghost Town: An American Nightmare – Wilmington, a small town in America’s Midwestern rust belt, was home to the world’s largest private airport. Then recession struck. Olivia Fincato reports.Wilmington, a small town in America’s Midwestern rust belt, was home to the world’s largest private airport. Then recession struck.
2. The global financial crisis slashed the value of financial assets worldwide by a massive $50 trillion last year, with developing Asia suffering more than other emerging market regions.Global Market Losses Reach $50 Trillion
3.As the global economic downturn worsens, the industrialized nations are at odds over how to fight the crisis. Obama wants the Europeans to introduce additional stimulus programs, but Merkel insists Germany is already doing enough. America Is from Mars, Europe Is from Venus
4.The world economy faces the biggest rise in unemployment in decades. How governments react will shape labour markets for years to come. When jobs disappear
5.Companies struggle as cargo transport demand sinks so soon after a remarkable boom period. Shipping industry left with an empty feeling
Utilities are a favorite among investors during good times and volatile market conditions. Many utility stocks tend to be relatively stable long-term value plays as they pay decent dividends. For the most part, utilities have a solid business model and enjoy monopoly in the territory they operate due to state regulations. While prices they charge are also highly regulated they usually get approvals for rate increases. So far this year, the utility components in the S&P 500 Index is down 17.33% while the S&P is off 16.54% as of market close yesterday.
The following is a brief overview of the top 5 US utilities based on market cap today:
1. Exelon Corp (EXC) is one of the largest utility companies in the US with customers in Northern Illinois, Chicago, Southeastern Pennsylvania including Philadelphia. With a market of $29B, the stock has an yield of 4.86% and a P/E of 1.73. Average annual earnings growth over the past 5 years is about 25%.
2.As the name implies, Southern Co(SO) supplies electricity to customers in the states of Alabama, Georgia, Florida, and Mississippi. Currently Southern pays a 7.95% dividend. In the last 52 weeks, So is down 18%. The 5 year annual earnings growth is a low 2.10%.
3.Florida-based FPL Group Inc (FPL) is “engaged primarily in the generation, transmission, distribution and sale of electric energy”. Compared to Southern Co, earnings have grown at 100% annually in the last 5 years. Dividend growth rate in the same period is 8%. The dividend yield is 4.05%.
4. Dominion Resources Inc (D) is a producer and distributor of both electricity and natural gas. Last year Dominion had $16B in revenue. With a dividend rate of 5.79% and a P/E of just 9.5, Dominion is attractive at current levels. Dominion’s annual dividend growth rate is 4.10%.
5. Charlotte,NC-based Duke Energy(DUK) operates in the mid-western states. Duke bought a Cincinnati,Ohio utility called Cinergy a few years ago. The gains promised by Duke as a result of this merger did not materialize. The current yield of DUK is 6.99%. Duke’s profit margin is about 10%.
Disclosure: Long FPL, DUK