SOURCE: Russell Investments

Russell Investments

February 01, 2013 04:30 ET

Russell Eurozone Index Indicates a Dynamic Start for Eurozone Markets YTD as of January 30th

SEATTLE, WA--(Marketwire - Feb 1, 2013) - Eurozone equity markets have had a dynamic start to the year, showing positive returns year-to-date as of Wednesday 30th January, as reflected by the Russell Eurozone Index returning +4.2%. In addition, Dynamic-oriented stocks have outperformed Defensive-oriented stocks for this same time period, with the Russell Eurozone Dynamic Index returning 5.1% and the Russell Eurozone Defensive Index returning 3.0%. This follows a similar pattern from 2012, in which the Russell Eurozone Dynamic Index (+21.5%) also outperformed the Russell Eurozone Defensive Index (+15.7%). 

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 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 4.2% 19.0%
 Russell Eurozone Dynamic Index 5.1% 21.5%
 Russell Eurozone Defensive Index 3.0% 15.7%
 Portugal 11.7% 8.4%
 Greece 8.9% 25.1%
 Italy 6.8% 12.9%
 Spain 6.3% 2.4%
 Finland 5.8% 15.7%
 Netherlands 4.5% 8.5%
 Ireland 4.4% 21.6%
 France 3.4% 21.3%
 Germany 3.0% 29.4%
 Austria 2.7% 35.3%
 Luxembourg 0.2% 8.4%

Source: Russell Investments