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.

Estonia (P/E 1.12, dividend yield 3.99%) has been held up as an example of how best to deal with the credit crisis. The stock market retested the 2010 lows in September and has held a progression of higher reaction lows since. While it has rallied impressively over the last 10 weeks a sustained move below 600 would be required to question medium-term scope for continued 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. The P/Es quoted by Bloomberg are exclusively based on operating earnings.)