According to a press release, 17 of the 27 developed markets finished in positive territory with an average gain of 8.80% in the third quarter, while the 10 markets with negative returns averaged a loss of -3.85%. For the emerging markets, 17 out of 25 posted gains averaging 12.68%, with the eight markets showing declines for the quarter averaging -2.27%.
The markets rebounded in September, with 24 of the 27 developed markets posting gains, a sharp reversal from the 21 markets that declined in August.
Eight developed markets posted double-digit gains, led by Luxembourg (+16.11%), Australia (+14.91%) and Hong Kong (+13.67%). Portugal (-2.91%), Ireland (-1.72%) and Iceland(-1.44%) were the only countries that experienced declines.
All of the emerging markets were in positive territory for the month, with notable returns from China (+19.84%), Brazil (+18.88%), India (+16.40%) and Turkey (+15.83%). Chilereported the lowest gain of 0.81%, but remained up 50.82% over the 12-month period.
All ten sectors posted gains in September, with Materials leading the way at 10.39% and Energy at 8.05%. Consumer Discretionary showed the lowest gain of 1.85%.
“While liquidity and quality issues remained a major concern, the overall situation calmed down significantly with positive global reaction to the U.S. Federal Reserve’s interest rate cut of half a point, combined with remarks by several central banks reassuring investors that their governments would protect their economies and markets,” said Howard Silverblatt, Senior index Analyst at Standard & Poor’s, in the press release.
The full S&P/Citigroup World by Numbers Report for September is here .