Spain gets S&P Dow Jones Indices equity World Cup
In the S&P Dow Jones Indices ‘equity World Cup’, fixtures were decided by 12 month equity market returns rather than sporting prowess.
As S&P revealed, Spain beat Greece and Portugal into second and third place respectively, while seven of the eight quarter finalists were European in a strong showing from the region.
Tim Edwards, S&PDJI Director of Index Investment Strategy commented, “Although our equity World Cup is intended as a sideways look at the football field, these results do reveal an interesting truth about financial markets over the last year.
“Though we might be surprised to see the maligned economies like Greece and to a lesser extent Spain doing so well, it goes to show how oversold their equity markets were 12 months ago, and how strongly they’ve bounced back. Spain’s 12 month return of 46% stood out, while Greece’s 41% and Italy’s 38% are also worth highlighting.”
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