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The headquarters of the Caracas Stock Exchange (CSE) in the upmarket business district of El Rosal are big, imposing and comatose. On one recent day, December 10th, the market handled a grand total of 11 trades worth only US$72,526. Just four stocks changed hands: one fell in price slightly, while three were unchanged.
It was a typical, soporific day at the CSE. Of the 60 companies listed in the exchange, fewer than half see their stocks traded with any frequency. Some shares go months without a trade, making Caracas home to one of the least liquid bourses in the world. It is, in effect, a zombie exchange.
Read more at Financial Services Briefing: “The living dead” (December 16th)
The EIU's Financial Services Briefing delivers a complete picture of the finance industry in markets around the world, combined with five-year forecasts of key sub-sectors.