Profits from the property players

There is now little doubt that in the world’s largest economies the situation is much more positive than it has been. This is shown by the macroeconomic data, the assessments of central banks as well as companies’ results – particularly those across the Atlantic. In the US the slowdown at the beginning of the year turned out to be a temporary phenomenon, as partial data coming from China confirms that growth is accelerating – but the greatest increases were evident on the smaller, emerging markets. This growth is being driven by the weaker dollar as well as the rising prices of raw materials. As a result, stock exchanges in countries such as Korea, Brazil or Chile are performing better than those of developed markets. But even the latter are doing rather well, because in July the S&P500 broke another record and the Nasdaq grew by almost 3.5 pct in August (more than the ‘emerging’ WIG or WIG20). The stock ma