Debt issues, particularly those in the US concerning the debt ceiling, dragged world stock markets down in the last week of July after a month of upward performance that had reversed June's losses. A global 1.29% gain turned into a 1.7% loss.
Both developed and emerging stock markets lost ground, though emerging markets less so, according to S&P Indices.
Developed markets included in S&P’s Global Broad Market Index (BMI) lost 1.84%, while emerging markets lost just -0.72%.
The best performing emerging markets in July were Thailand (+12.10%), Peru (+10.89%), Philippines (+7.64%) and Indonesia (+6.98%).
The best performing developed markets were New Zealand (+4.42%), Singapore (+3.99%) and Japan (+3.63%).
The worst performing developed markets were Finland (-10.08%), Italy (-9.43%), Spain (-8.06%) and France (-7.75%). These also underperformed all emerging markets with Hungary at -7.59% being the lowest emerging markets performer in July.
©2011 funds europe