Nigerian Bourse Remains a Leading Frontier Market in 2012

December 31, 2012/ The Analyst, Proshare

In the thumbnail we highlight the YTD stock market returns for 33 countries around the world. Through today, the average country in the table was up 13.71% year to date. With an YTD gain of 34.19%, the Nigeria is outperforming countries listed by 7,066.63 basis points. The top performing country (YTD) is currently Nigeria with a gain of 34.19%. Philippines ranks a close second with a gain of 29.83%, followed by India (27.79%), Germany/Europe by (23.45%), Austria/Europe (22.63%) and Japan (21.44%). The worst performing country on the list is currently the Russia with a decline of 11.41%. Srilanka ranks second worst at 618% while Spain/Europe ranks third worst performing at -6.21%.
% Change 34.19% 29.83% 27.79% 23.45% 22.63% 21.44% 20.78% 17.33% 16.95% 14.90% 12.75% 12.08% 11.76% 11.55% 11.14% 10.35% 10.03% 9.82% 8.81% 8.70% 7.84% 7.53%

Regions NSE ASI PSE Composite Nifty DAX ATX Nikkei 225 Hang Seng Straits Times IPC BEL-20 Swiss Market SSE 180 Index (Shanghai) Nasdaq CAC 40 MerVal Jakarta Composite All Ordinaries S&P500 KLSE Composite Taiwan Weighted S&P/MIB Index AEX General Nigeria Phillipines/AsiaPacific India Germany/Europe Austria/Europe Japan/Asia-Pacific Hong Kong/AsiaPacific Singapore/AsiaPacific Mexico/NAmerica Belgium/Europe Switzerland/Europe Phillipines/AsiaPacific USA/NAmerica France/Europe Argentina/SAmerica Jakarta/Asia-Pacific Australia/Asia-Pacific USA/NAmerica Malaysia/Asia-Pacific Taiwan/Asia-Pacific Italy Netherlands/Europe

31-Dec-12 27,737.69 5,812.73 5,901.20 7,612.39 2,401.21 10,395.18 22,656.92 3,167.08 43,721.93 2,466.27 6,822.44 5,550.09 2,960.31 3,620.25 2,854.29 4,316.69 4,664.60 1,402.43 1,648.13 7,699.50 16,273.38 342.00

03-Jan-12 20,671.06 4,477.10 4,617.89 6,166.57 1,958.15 8,560.11 18,759.37 2,699.34 37,384.34 2,146.45 6,050.93 4,951.89 2,648.72 3,245.40 2,568.20 3,911.91 4,239.50 1,277.06 1,514.75 7,082.97 15090.3 318.04

Change 7,066.63 1,335.63 1,283.31 1,445.82 443.06 1,835.07 3,897.55 467.74 6,337.59 319.82 771.51 598.20 311.59 374.85 286.09 404.78 425.10 125.37 133.38 616.53 1,183.08 23.96

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Seoul Composite TA-100 Dow Jones Ind. Avg. SSE Composite Index (Shanghai) FTSE 100 IPSA Bovespa Toronto Stock Exchange Madrid General All Share RTS Exchange

South Korea/AsiaPacific East Isreal/AfricaMiddle East USA/NAmerica China/Asia-Pacific UK/Europe Chile/America Brazil/SAMERICA Canada Spain/Europe Sri Lanka/Asia-Pacific Russia

1,997.05 1,050.69 12,938.11 2,269.13 5,925.37 4,301.38 60,952.08 12,316.12 820.48 5,614.22 1,526.98

1,866.22 1,004.19 12,397.38 2,179.12 5,699.91 4,163.16 59,264.87 12,412.52 874.79 5,990.68 1,723.57 -

130.83 46.50 540.73 90.01 225.46 138.22 1,687.21 96.40 54.31 376.46 196.59

7.01% 4.63% 4.36% 4.13% 3.96% 3.32% 2.85% -0.78% -6.21% -6.28% 11.41%

NB: In Bloomberg, YTD for Philippines is showing 32.95% and based on our data its 29.83% ( using Jan 3, 2012 as first trading day of the year since the Nigerian Market was closed on January 2, 2012). Out of the G7 countries, Germany is up with a YTD gain of 23.45% as Japan stands at second position with a gain of 21.44%. The US ranks third, followed by France, Italy and UK. Canada ranks last with an YTD loss of -0.78%.
Regions DAX Nikkei 225 Nasdaq CAC 40 S&P/MIB Index FTSE 100 Toronto Stock Exchange Germany/Europe Japan/Asia-Pacific USA/NAmerica France/Europe Italy UK/Europe Canada 31-Dec-12 7,612.39 10,395.18 2,960.31 3,620.25 16,273.38 5,925.37 12,316.12 03-Jan-12 6,166.57 8,560.11 2,648.72 3,245.40 15,090.30 5,699.91 12,412.52 Change 1,445.82 1,835.07 311.59 374.85 1,183.08 225.46 96.40 % Change 23.45% 21.44% 11.76% 11.55% 7.84% 3.96% -0.78%

India is the only BRIC country performing particularly well in 2012 with a gain of 27.79%. China and Brazil are both up less than 5%, while Russia is one of the few countries in the red zone at 11.41%.
% Change 27.79% 4.13% 2.85% -11.41%

Regions Nifty SSE Composite Index (Shanghai) Bovespa RTS Exchange India China/Asia-Pacific Brazil/SAMERICA Russia

31-Dec-12 5,901.20 2,269.13 60,952.08 1,526.98

03-Jan-12 4,617.89 2,179.12 59,264.87 1723.57

Change 1,283.31 90.01 1,687.21 196.59

G7 countries have done better than the BRIC countries in terms of performance. All countries in total are doing somewhat better than last year, though country had their specific issues while the entire world is still in a rolling global economic malaise. US and

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EU economic regions will still drive the future prospects for any global recovery not the BRICS. The US fiscal cliff concerns are dominating global stock markets as at today while a resolution of USs fiscal problem is expected to boost sentiment in financial markets across the globe.

About the Authors:

Reshu BAGGA is a Director for The Analyst & COO, Technical Services. The authors wish to acknowledge the contribution of Olufemi AWOYEMI, FCA to the development of this article.

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