Eoin Treacy's view Here is the monthly list of 99 global indices ranked in descending order by dividend yield, then in ascending order by P/E, Price / Book and Price / Cash Flow.

Two indices in the above report caught my attention this month. The first is the South African All Share which has a P/E of 11, dividend yield of 2.35% and a firm currency. The Index is one of the cheaper markets in the world on a P/E basis and had been ranging mostly below 28.500 for most of the year. It broke upwards to a new 12-month high this week. While a little overbought in the very short-term a sustained move below 28,000 would be required to question medium-term upside potential.

Russia has a P/E of 9, dividend yield of 1.61% and with energy and industrial commodities firming, investor interest may return to this market. The Index has been largely rangebound for a year but has posted a succession of higher reaction lows since May, found support near the 200-day MA in August and moved to a new six-month high this week. While a little overbought in the very short-term a sustained move below the 200-day MA, currently near 1450 would be required to question scope for further medium-term upside.

(Please note: All data quoted above originates in Bloomberg. We realise that some of the data displayed is inaccurate for some indices, particularly where ADRs are included. However, I have endeavoured to remove those indices which were most problematic. We continue to publish these tables because the data is generally accurate and going forward we will continue to weed-out the less reliable data sets as subscribers highlight them for us. I have also deleted the FTSE AIM Index from the list because it does not seem to have very reliable figures. The P/Es quoted by Bloomberg are exclusively based on operating earnings.)