Developed markets off, emerging off further
Developed equity markets globally fell 1.79 per cent in June, but still fared better than emerging markets, which collectively fell 2.06 per cent for the month, according to Standard & Poor’s Indices.
Developed markets performance was boosted by leaders Germany and Japan, which each gained around 1.8 per cent, while many northern European markets underperformed with Sweden the worst performer, down 5.29 per cent.
Emerging market performance in June was led by the Philippines, Malaysia and India, which each improved more than 1 per cent, while at the other end Peru dropped 11.49 per cent and Morocco 5.75 per cent.
Despite last month’s figures developed markets are up 4.26 per cent for the year to date led by a 14 per cent gain in France.
Emerging markets are down 2.23 per cent for the first half of this year although predictably there was a far greater divergence in individual markets, ranging from Peru (down 25.41 per cent) to Hungary (up 20.63 per cent).
The results are based on the S&P Global Broad Market Index, which covers approximately 10,000 companies in 45 countries.
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