Ghana wins 2010 Equity World Cup

2010-06-09 12:53

kalahari.com

Johannesburg - Standard & Poor's (S&P) on Wednesday crowned Ghana as the winner of the 2010 Equity World Cup.

"S&P Indices data charting equity performance between January to May 2010 have been used to simulate an 'Equity World Cup' that compares the relative performance of equity markets in the countries that have qualified for the football World Cup," the ratings agency said in a statement.

Nations were pitted against each other in accordance with the World Cup draw and the country with the better equity performance moved to the next round.

"Even before the first ball is kicked in South Africa, S&P Indices has crowned Ghana as the winner of the 2010 World Cup."

S&P said Ghana’s victory underlined a strong showing from a number of nations classed as emerging or frontier markets.

"Ghana heads the field with a rise in its equity performance of 50.73% in the first five months of 2010.

"Nigeria, beaten by Ghana in an all-African semifinal, also performed strongly with a growth of 19.97%."

S&P said that the Chilean market was down 5.48% but the country still made the semifinals was a testament to the weak average return across markets in Europe and North America.

Traditional football powerhouses

"S&P Indices' Equity World Cup shows a string of results that stands in sharp contrast to the expectations for South Africa 2010.

"Spain remains the bookmakers’ favourite for the competition, but with its equity performance retracting by 37.49% in 2010, it was vanquished in the group stage of the equity simulation."

S&P said traditional football powerhouses Brazil and Argentina fared little better; Argentina (-6.93 percent) succumbed to Nigeria in the quarter-finals, while Brazil (-23.38%) was eliminated by Chile.

"A number of European markets have had disappointing returns in equity markets in 2010, reflected by the fact that Denmark was the only nation (-10.46%) to reach the last four."

Italy performed weakly in the S&P simulation and with an equity performance of -33.07 percent, the current World Cup holders were eliminated by Japan in the last 16.

S&P said England fans would also hope that the Equity World Cup was not a bad omen for the main event: "a poorly performing equity market (-19.67%) ensured defeat at the hands of the United States (-4.30 percent) and a crushing defeat to Ghana in the last 16".

"Football fans don't need to panic at the results of the Equity World Cup, but S&P's project will be of real interest to the investor community," said Marius Baumann, senior director Custom Indices EMEA.

"The excellent performance of Ghana and other frontier markets is a fascinating and emerging trend," he added.

- SAPA
Read more on:    ghana  |  west africa  |  world cup 2010
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

 

Inside News24

 
/News

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Magical Massinga

Spend 5 nights at the gorgeous Massinga Beach Lodge in Mozambique and only pay for 4 from R13 220 per person sharing. Includes return flights, accommodation, transfers and romantic turndown. Book now!

Kalahari.com - shop online today

20% off all TV Series!

Want to have a chilled day at home? Get 20% off TV series, the perfect excuse to "veg out". Shop now!

Save R700 on the Hisense LED TV Now R2499

Get the Hisense 32” HD ready LED TV for only R2499. Offer valid while stocks last. Shop now!

Up to 40% off fashion accessories

Save up to 40% on selected handbags, purses, watches, jewellery and more. Offer valid while stocks last. Shop now!

Save up to R2000 on top electronics

Get every day mind bowing savings on top electronics. Offer valid while stocks last. Shop now!

As seen on TV - New book releases at only R199 each

Get mind blowing book savings on new titles. Offer valid while stocks last. Shop now!

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

Horoscopes
Aquarius
Aquarius

Today is a good day to combine imagination, information and creativity together. Try not to over rationalise things and rather...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.