Monthly overview of the markets of Status New Shares and Status Finance – July 2009
14.08.2009
The consolidation of the markets of Status New Shares that started in June continued in July as Istanbul was the only exchange that logged a more substantial gain. The growth in Turkey as well as the other large developing markets was caused by positive economic data from China, which sent the indices to levels before the bankruptcy of Lehman Brothers. The positive signals from the U.S. economy were also a boon to the global markets in the last week of the month. Existing home sales rose 3.6% monthly and slowed down their annual decline to 0.2% fuelling expectations that the worst of the crisis is over. Bucharest edged up moving in line with global markets. Belgrade and Sofia continued their consolidation at low liquidity. The Zagreb Stock Exchange slipped amid a government plan to introduce taxes on capital gains and dividend. Turkish banks had the main share in the growth of Status Finance for the month. Romanian privatization funds were also among the fast growing positions of Status Finance as their price moved on the news of the abolishment of the 1.0% threshold for ownership in each fund. On a global scale the positive signals for economic recovery prompted the revision of risk assessments that were previously based on expectations of the realization of strongly negative scenarios.
Detailed information about the performance of Status New Shares and Status Finance for July 2009 is available in the monthly reports of the funds published in the Documents section of each fund.
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