Improving Eurozone Outlook: Russell Indexes Showed an Improving Eurozone in July as Russell Investment Strategists Upgrade Eurozone Equities From Underweight to Neutral
(firmenpresse) - SEATTLE, WA -- (Marketwired) -- 08/01/13 -- Eurozone equity markets were up strongly in July month-to-date as of July 29 according to the , with a 5.46% return for the Russell Eurozone Index following a 3.75% return in the first half of 2013. This compares to a 2.78% return for the Russell Global ex-U.S. Index for July following a 2.09% return for the first half of 2013.
Within the Russell Eurozone Index, country constituents Ireland (20.5%), France (12.8%) and Germany (9.7%) led year-to-date returns as of July 29, while country constituents Austria (-0.02%), Luxembourg (-3.32%) and Greece (-12.36%) were the weakest performers for this same time period. Country constituent Spain (+9.47%) led the Index for July month-to-date as of July 29, while Greece (-1.83%) was the bottom performer within the Index for this same time period.
This week, Russell Investments released its for global markets, projecting continuing economic improvements in the U.S., Europe & Japan. Russell's team of global investment strategists believe the Eurozone will continue down a bumpy road in 2013 but will likely exit its recession in the third quarter of 2013 as austerity takes a backseat and monetary policy remains accommodative. Equity valuations in Europe are attractive relative to the rest of the world, and Russell strategists see more profit upside than in the U.S. market. Their overall outlook for European equities, therefore, is a slight upgrade from underweight to neutral.
"While the Eurozone economy will continue to struggle, we believe the overall environment in Europe is getting decidedly 'less bad,' before the end of 2013," said Wouter Sturkenboom, investment strategist for Russell Investments Europe. "The Eurozone appears to be changing direction and sentiment is picking up. Budget deficit targets have been postponed, and the European Central Bank (ECB) has provided forward guidance of continued loose monetary policy. This is positive for the near-term outlook on both economic growth and Eurozone financial markets."
Please note: Indexes are unmanaged and cannot be invested in directly. Returns represent past performance, are not a guarantee of future performance, and are not indicative of any specific investment. Russell's publication of the Indexes or Index constituents in no way suggests or implies a representation or opinion by Russell as to the attractiveness of investing in a particular security. Inclusion of a security in an Index is not a promotion, sponsorship or endorsement of a security by Russell and Russell makes no representation, warranty or guarantee with respect to the performance of any security included in a Russell Index.
Forecasting represents predictions of market prices and/or volume patterns utilizing varying analytical data. It is not representative of a projection of the stock market, or of any specific investment.
Opinions expressed by Mr.Sturkenboom reflect market performance and observations as of July 29, 2013 and are subject to change at any time based on market or other conditions without notice. Past performance does not guarantee future performance.
This material is not an offer, solicitation or recommendation to purchase any security.
Nothing contained in this material is intended to constitute legal, tax, securities or investment advice, nor an opinion regarding the appropriateness of any investment, 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. The information, analysis and opinions expressed herein are for general information only and are not intended to provide specific advice or recommendations for any individual entity.
Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company.
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Datum: 01.08.2013 - 14:03 Uhr
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