Russell Eurozone Index points to dynamic start to year

Returns from the Russell Eurozone Index point to a strong start to the year for the region’s markets, including the peripheral countries.

In addition to the region’s markets performing well, there has also been an improvement in the performance of riskier stocks, as measured by comparing the Russell Eurozone Dynamic Index versus the Defensive Index.

“Southern European equity markets are showing strong performance year-to-date as of January 30th relative to other country constituents within the Russell Eurozone Index,” the index provider stated.

“The Russell Eurozone Index has indicated that country constituents Portugal (+11.7%) has been the top performing country so far in 2013 (as of 1/30/13), followed by Greece (+8.9%) and Italy (+6.8%). Bringing up the rear in the Russell Eurozone Index YTD are Germany (+3.0%), Austria (+2.7%) and Luxembourg (+0.2%).”

“European equities have demonstrated strong performance year-to-date as evidenced by the recent index returns,” said Wouter Sturkenboom, investment strategist with Russell Investments Europe.

“A perceived improvement in investor sentiment has driven a strong rally and strong relative performance by dynamic-oriented European stocks in 2013 to date suggests a continued ‘risk-on’ stance by European investors. Yet as Eurozone leaders continue to search for the right policy mix we see another volatile year ahead for European equities and remain cautious in the short-term.”

 

Index / Index Country Constituent 2013 YTD a/o 1/30 2012
Russell Eurozone Index 4.20% 19.00%
Russell Eurozone Dynamic Index 5.10% 21.50%
Russell Eurozone Defensive Index 3.00% 15.70%
Portgual 11.70% 8.40%
Greece 8.90% 25.10%
Italy 6.80% 12.90%
Spain 6.30% 2.40%
Finland 5.80% 15.70%
Netherlands 4.50% 8.50%
Ireland 4.40% 21.60%
France 3.40% 21.30%
Germany 3.00% 29.40%
Austria 2.70% 35.30%
Luxembourg 0.20% 8.40%
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