Turkey stands out on emerging Europe's edge
By Patrick Smith | Tue, 27/11/2012 - 14:50
With the seemingly intractable problems of the eurozone on its doorstep, it's easy to see why Eastern Europe is a risky investment prospect.
Many of the region's banks come under eurozone-domiciled ownership and the eurozone is also an important export market. It means when the West sneezes, the East catches a cold.
However, the region's stockmarkets haven't fared too badly - as at 1 November the Amundi MSCI Emerging Europe ex Russia (CE9) exchange traded fund is up 7% and 1% over six months and one year respectively. Undoubtedly the brightest star has been Turkey - the HSBC MSCI Turkey (HTRY) ETF shows gains of 22% and 28% over six months and year respectively.
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