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An anomaly is something that deviates from theoretical expectations and, within the financial markets, anomalies refer to stock price irregularities that result in short-term and long-term inefficiencies. In the presence of cyclical anomalies, investors can earn abnormal returns by exploiting the predictable patterns in stock price movements. The old saying “Sell in May and go away, don’t come back till St Leger Day” is widely known in the investment world and represents one of the most researched cyclical anomalies. This strategy is based on the historical underperformance of stocks in the six-month period starting in May and ending in October, compared to the period from November to April.
The Oil Sector has not been lacking in breaking news recently. On Monday 09 May, the investor community read that one of the largest oil companies, Total SA, had offered to acquire, Saft Group, who designs and produces high-tech nickel and lithium batteries for manufacturing, transportation, civilian and military electronics. Total SA is one of the so called supermajors – a term given to the seven largest publicly traded oil companies in the world, namely Total, BP, Chevron, ExxonMobil, Royal Dutch Shell, the Italian Eni and ConcoPhillips.
This monthly report summarises the Top Ten price performers in each of the Top Ten countries (by market capitalisation) during April 2016 in the EMIX World Index Series. The stock performance calculations are based on the local currency share price performance over the month of April 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.
In March 2007, the Indian steel-making company Tata Steel acquired the largest UK steel producer Corus Group (formerly known as British Steel) for 608 pence per share. Before the deal, Tata was 56th largest producer by world rankings, and the acquisition catapulted the company into 5th place. Nine years later, on 29 March this year, the steel giant announced that it plans to sell all its British assets, further aggravating a crisis which has led the UK steel sector to the edge of extinction.