[video] European Markets End 2013 Higher, Emerging Markets Struggle
The video this transcript is based on appeared on December 31.
NEW YORK (TheStreet) -- 2013's been a remarkable year for major markets with Germany's DAX up 26% and Tokyo finishing the year up 57%. But some emerging markets like Turkey and Brazil were hit hard by the Federal Reserve's long dither about when to start the taper. China has ended a year-long freeze on new IPO, giving the go ahead for five to start out with. Despite the boost from recently announced economic reforms the Shanghai Composite ended the twelve months down 7.1%.
As we head into the final trading day of 2013, European markets are trading evenly and treading water in advance of U.S. markets' open. For more on global indices as well as individual stocks we turn now to Jonathan Braude in The Deal's London newsroom for more. Jonathan?
Morning Jon. Well it's the final day of trading in London and Paris, actually Frankfurt and Toyko are already closed for the new year. Major markets it has good year 2013, can't really talk about today's trading, there wasn't much. Frankfurt is up 26 percent on the year and Turkey up 57 percent. London, although it was in this morning is ending roughly 14 percent for the year, so all done well. It's the emerging markets where the Fed's long dither over the taper has made a difference in some markets like Turkey and Brasil had a pretty bad year. In China this morning quite interestingly they opened the window for new IPOs after a year-long freeze. They've given the go-ahead to find new ones ones on the Shanghai Composite and the rest will be on Shenzehn, which is a smaller cap market. That's not boosted the mood for investors in existing stocks and via the new trades will actually take money away from their current investments. The market is down on the year by about 7 percent. And in London we're ending the year with some weakness among the big retailers, supermarkets, clothing stores. All have had a bit of trouble. Debenhams is about to lose its CEO Simon Herrick and its down about two-tenths of a percent this morning. Marks & Spencer, although it's up this morning has had a bad quarter and so have the supermarkets. That's all from me in London, over to you Jon. Have a happy new year!
Thank you Jonathan. That was Jonathan Braude with The Deal in London.
Written by Jon Marino in New York.
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