A Standard & Poor’s press release said emerging markets posted a slight recovery in July, moving up 1.73% for the month after falling 0.57% in June, but remained down for the three-month period with a 9.25% return.
Country volatility remained high in July, which S&P contributes to the turmoil in the Middle East, according to the release. The Luxembourg market was down 14.46% and Jordan was down 6.09%. Gains were posted in the Colombia equity market, up 19.88%, and Egypt, which gained 17.91% in July. Despite current Middle East events, Israel gained 1.74% in the month, but is still down 13.07% for the 3-month period.
The Energy sector continues to do well (gaining 3.32%) from unstable oil prices. The Utilities sector was the top performer for the month, with a 3.93% gain, and Health Care came in third, gaining 3.27%. Information Technology was the worst performing sector, losing 3.66% for the month.
The World by Numbers report can be found at www.standardandpoors.com .