In December, the All-World Index was up 6.1%, on impressive upward mobility of the FTSE All-World Europe Index, 8.1% higher for the month. The index with the worst performance was the FTSE All-World Middle East & Africa, up only 1.7%, according to a news release.
December though was a slight departure from the rest of 2003, as the year’s best performing index was the Middle East & Africa measure, which turned in a staggering 44.8% return in 2003.
Also showing departure from earlier results (See FTSE All-World Index Rings Up 4% November Gain ), the best performing country for the month was November’s worst performer – the FTSE Turkey gaining 32.4% in dollar terms. Other winners in December included:
- FTSE Thailand – 28.04%
- FTSE China – 26.14%
- FTSE Argentina – 21.81%
- FTSE Brazil – 17.67%.
FTSE only noted one losing country index in December, the FTSE Finland down 2.4% for the month. The other weak performers for the month were:
- FTSE Israel – 0.53%
- FTSE Malaysia – 0.99%
- FTSE Peru – 1.48%
- FTSE South Africa – 1.85%.
For the year, it was Turkey taking the crown as 2003’s best performing country, up 27.23%. Other winners were Thailand (27.06%), China (26.10%), Argentina (19.55%) and India (16.04%). On the other side, Finland was the past year’s poorest performing country, down 7.22%. Other countries on the down side were Israel (-0.59%), Italy (-0.53%), Malaysia (0.99%) and Peru (1%).
Mirroring the rise of global equity markets in the later portions of 2003, 23 sectors improved by 5% or better in December. The FTSE All-World Oil & Gas Index, up 14.15%, registered the largest gains. Other winners in December included:
- FTSE All-World Steel & Other Metals – 13.83%
- FTSE All-World Automobile & Parts – 10.58%
- FTSE All-World Forestry & Paper – 10.46%
- FTSE All-World Utilities (other) – 10.10%.
The only losing sector in December was General Retailers, down 1.5%. Poor performances in December were recorded by the FTSE All-World IT Hardware (0.43%), FTSE All-World Household Goods & Textiles (2.76%), FTSE Support Services (3.28%) and FTSE All-World Food & Drug Retailers (3.46%).