UK, France, Switzerland and Germany lead S&P Euro 350 in 2013
Tim Edwards, a director of the index strategy team at S&P Dow Jones Indices has analysed how the S&P Euro 350 has performed in 2013.
Ahead of the EU Summit on 19 December in Brussels, the director of the index strategy team at S&P Dow Jones Indices revealed that the Europe 350 returned 14.14% in the year to date.
“UK contributed the most to positive performance in the European equity markets; but unlike the UK, France, Switzerland and Germany punched above their weight.
“It is interesting to see companies from each of Germany, Ireland and Sweden were added to the S&P’s premier pan-European large cap index this year and that there is one fewer representative from each of Spain, the UK and the Netherlands,” Edwards said.
Looking at overall returns, Edwards also highlighted that almost every country and every sector delivered a positive contribution, with only one of each (Luxembourg and materials, respectively) posting a loss.
“In November, the total return index briefly broke its previous highs, established back in July 2007. Excluding the effect of dividends however, the Europe 350 price index remains considerably below its pre-crisis levels, requiring a further 30% before that particular achievement can be celebrated,” he concluded.