Lifting World Cup Can Boost Stocks In Home Market
Winning the soccer World Cup can bring instant rewards to that country’s stock market investors. But they better be quick as the post-victory rally doesn’t last long. That’s the conclusion of investment bank Goldman Sachs, which published a wide-ranging report late Tuesday on the World Cup and its economic impact. Goldman Sachs analysts found “a clear pattern of outperformance by the wining team in the weeks after the World Cup final.” However, they say the positive impact doesn’t last long and the winning nation sees its stock market underperform by around 4 percent over the year following the final.
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