Mom, you turk them. But in this case more than fear it is amazement and appreciation for the extraordinary financial performance of Turkey in 2012. Turkey has been at the center of both geopolitical and economic attention of the international community for some time and the stock markets reflect the good performance of its society. Since the beginning of the year, the Turkish stock exchange, based on the Ise National 100 index, has gained 27,14% in local currency but a good 41,65% in euros. Only the Venezuelan stock exchange, driven by oil, did better (+121,9% in euros), but the Caracas stock exchange is not considered one of the reference exchanges at an international level, both due to lack of transparency and currency fluctuations. While taking these data with a grain of salt and while considering the volatility of thin Stock Exchanges, where a few trades or the fluctuations of a large stock are enough to change share prices, in the first part of 2012 good performances – measured in Euros – also achieved Egypt (+38,8%), Estonia (+24,8%), Mexico (+23,4%), Thailand (+22,9%) and the Philippines (+20,9% ).
Among the major Stock Exchanges, the performance of Germany stands out (+16,4% for the Dax against - 6,4% for the Ftse Mib of the Italian Stock Exchange), preceded among the price lists of the Old Continent only from the small stock exchange Denmark (+ 24,7%), and once again of the Nasdaq, the US hi-tech circuit, which recorded an increase of 17,7& confirming itself as the best American index.
The effects on passive funds (ETFs) are almost automatic. In 2012, ETF Lyxor Turkey recorded a leap forward of 44,8% but ETF Vietnam also did well (+34,2%). the Lyxor Nasdaq 100 (+23,3%), the Lyxor Auto (+22%), the ETF on UK small caps (+9%), the ETF on Asian financial companies (+21,4 %) and, of course, the Lyxor Dax (+19,4%), whose leveraged ETF (Lyxor Leverage Dax) has even risen by 16,4% since the beginning of the year.
