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It has not been a sunny year for the tourist industry. In addition to the problems already troubling hotel operators - the slow global economy growth and the rise of startups, such as AirBnB, offering more choice and affordable options to customers - they had to endure two further, unexpected, shocks that hit the sector like lightning: random terrorist atrocities and Brexit, both of which have had a negative impact on Europe’s tourism industry.
This monthly report summarises the Top Ten price performers in each of the Top Ten countries (by market capitalisation) during July 2016 in the EMIX World Index Series. The stock performance calculations are based on the local currency share price performance over the month of July 2016. The report highlights stocks that, relative to their peers, deserve a Ten out of Ten for performance. Please contact Euromoney Indices at email@example.com for further details on the EMIX World Index Series.
Over the last few weeks, two significant takeover offers have given us the opportunity to take a look at the recent performance of the Food sector. The French giant Danone announced its offer to acquire American organic food producer The WhiteWave Foods Company; and the American confectionery giant Mondelez International announced its offer to acquire The Hershey Company. The common element between these two offers is that both target American companies, which means that both deals aim to increase the acquirers’ presence in the US. However, the two stories developed quite differently.
In the history of stock markets, we have had Black Monday in 1987, Black Tuesday in 1929 and in terms of exchange rate drops – Black Wednesday on 16 September 1992, when the pound sterling depreciated 4.1% against the US dollar following the Britain’s decision to leave the European Exchange Rate Mechanism. Now the markets have their Black Friday. The day is 24 June 2016 and the pound sterling has once again played a leading role.