SOURCE: Russell Investments

Russell Investments

May 17, 2012 09:42 ET

Russell Developed Europe Index YTD Market Returns: One of the PIIGS Got Away

SEATTLE, WA--(Marketwire - May 17, 2012) -

Performance for country constituents of the Russell Developed Europe Index through May 14th, 2012:

  • Ireland leads all country constituents within the Russell Developed Europe Index for 2012 as of May 14th, with a +13.3% return, followed by Germany (+10.1%) and the United Kingdom (+7.4%).

  • Ireland is a very notable standout in year-to-date performance among the so-called "PIIGS" of Europe, or Portugal, Italy, Ireland, Greece and Spain. The rest of the PIIGS have seen the weakest returns year-to-date within the Index, with Portugal at (-5.2%), followed by Italy (-7.3%), Greece (-8.7%) and Spain the worst performer at (-18.4%).

  • Within the Ireland constituent of the Russell Developed Europe Index, the Technology sector has led all sectors year-to-date with a +99.1% return, followed by the Consumer Discretionary (+22.1%) and Consumer Staples (+21.4%) sectors.

"Amidst all the anxiety over the future of Greece, Ireland has emerged as a bright spot among the PIIGS thus far in 2012," said Russell indexes senior research director Tom Goodwin. "A key driver for Ireland's equity market in 2012 has been technology stocks, as illustrated by the performance of its Technology sector year-to-date within the Index."

Russell Developed Europe Index, Ireland - 2012 YTD Sector Performance (a/o May 14th)

Ireland Sector YTD Performance as of May 14th
Technology 99.2%
Financial Services 10.1%
Health Care -3.3%
Consumer Discretionary 22.1%
Consumer Staples 21.4%
Energy 3.8%
Materials & Processing 0.2%
Producer Durables 11.0%

Source: Russell Investments

Nothing contained in this material is intended to constitute legal, tax, securities or investment advice, nor an opinion regarding the appropriateness of any investments, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax and investment advice from a licensed professional.

Returns were not included for Denmark, Iceland and Belgium due to these markets containing a limited number of constituents and not meeting reporting requirements.

Opinions expressed by Mr. Goodwin reflect market performance and observations as of May 14, 2012 and are subject to change at anytime based on market or other conditions without notice. Please remember that past performance does not guarantee future performance.

The Russell Global Index includes more than 10,000 securities in 48 countries and covers 98% of the investable global market. All securities in the index are classified according to size, region, country and sector. Daily Returns for the main components are available here: http://www.russell.com/indexes/data/daily_total_returns_global.asp

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