Nigeria’s Equity Market Is Among Worst Performing Assets Of 2016

Nigeria’s equity market fared worst in the year. The nation’s economy is set to contract in 2016 for the first time in more than 20 years as capital controls deter foreigners from investing and militants are blowing up pipelines.

But in South America’s recent unrest, Brazil’s Ibovespa stock index remains the best performer for 2016. This is largely due to hopes that President Michel Temer, who took office after Dilma Rousseff was impeached, will end the worst recession in a century and bring about political stability. While 2015 was rather rough for commodity bulls, this year it’s hard to find red on the screen. NATURAL gas was the standout, up more than 60 percent over the past 12 months, and forecasts for a cold start to January are sending it out with a bang.

Oil bounced back, though the ride was rough. West Texas Intermediate slid below $30 before rising above $50 — good for a gain of more than 50 percent this year. Crop farmers had it hardest, as wheat and corn took tumbles of 13 percent and 1.6 percent, respectively.
Commodities
While 2015 was rather rough for commodity bulls, this year it’s hard to find red on the screen. NATURAL gas was the standout, up more than 60 percent over the past 12 months, and forecasts for a cold start to January are sending it out with a bang.

Oil bounced back, though the ride was rough. West Texas Intermediate slid below $30 before rising above $50 — good for a gain of more than 50 percent this year. Crop farmers had it hardest, as wheat and corn took tumbles of 13 percent and 1.6 percent, respectively.

Bonds
Venezuelan bonds have been among the TOPinvestments, somewhat surprisingly given the social unrest in the financially struggling nation. Its bonds rallied on rumors the government may be looking to strike a deal to push back looming debt maturities, which would give the cash-strapped nation fiscal breathing room. More debt comes due in 2017, and some payments have already been missed. The worst performing bond came from Mozambique as the nation struggles with a debt crisis and surging inflation.

Author: NewsAdmin

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