Investing January 5, 2004

FTSE All-World Finishes 2003 31% Higher

January 5 2004 (PLANSPONSOR.com) - December's continued rising equity tide helped buoy the FTSE All-World Index to an impressive 31.4% return in 2003.
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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%).

Sector Performance

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%).

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