Constructors lead the way

Last year was a very good one for the American stock exchanges. The S&P500 index showed that it was possible to earn more than 10 pct over the year – an excellent figure for a developed market. In January 2015 the time came to calculate the profits made over the period, and these had also been boosted by factors other than the rates of return over the last twelve months or a comparison share prices between US stock exchanges and those in the rest of the world. The gap between the economy of the United States and Euroland has started to narrow slightly, as could be seen in the euro zone economic data, while decreasing oil prices worsened the prospects of American energy companies and the strengthening dollar weakened the hand of American exporters. Meanwhile, in Europe the long-awaited quantitative easing programme, which had been applied across the ocean for the last few years and contributed to a large extent to the bull market stateside, is now being implemented. In Eurolan