According to S&P’s year-end global stock market
review, the S&P/Citigroup Developed World Index
returned 11.71% in 2005 sparked by the performance of
Asia-Pacific equity markets, which gained 27.41% for the
year. That powerful number dwarfed the 11.08% and 7.86%
increases in Europe and North America.
“Investors were able to see past a number of headlines, including inflated energy prices, hurricanes, terrorist bombings, and social unrest, to help equity markets turn in a year of strong performance,” said Nicholas Aninos, analyst at Standard & Poor’s Index Services, in a news release.
Standard & Poor’s data shows that small-cap stocks outperformed large-cap equities both in relative and discrete terms for all of 2005. The smaller-cap S&P/Citigroup Extended Market Index bulled ahead by 15.45% while the larger-cap S&P/Citigroup Primary Market Index advanced 10.71%. The under $2 billion cap-range gained 17.41% versus the 8.86% gain for the over $10 billion cap-range during the year. Also for 2005, the S&P/Citigroup Growth Index bested the Value Index 13.27% versus 10.12%.
The S&P/Citigroup Emerging Markets Index finished the year up 29.37%. For the year, emerging market country returns ranged from a 20.40% return in Venezuela to a 150.36% gain in Egypt. The S&P/Citigroup Global Composite Index, which combines developed and emerging markets, pulled ahead 12.56% in 2005.