US debt fears hit positive July markets

Graph_downDebt 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

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