World Equity Index Valuations Tables
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.
As the perception of imminent Eurozone breakup receded the yields currently
available on a number of European indices are worthy of mention.
The
Dutch AEX (4.46%) found support in the
region of its 200-day MA from November and has rallied to break back above 350
for the first time since early 2011 over the last few weeks. A sustained move
below the trend mean would now be required to question medium-term scope for
continued higher to lateral ranging. The Belgian BEL20
(4.39%) has a similar pattern.
The
Portuguese PSI20 (5.41%) continues to
rally impressively and while it is becoming increasingly overbought in the short-term
a clear downward dynamic will be required to check momentum.
The
Finnish HEX Index (4.83%) appears to be
in the process of breaking out of its 18-month base and a sustained move below
5700 would be required to question that view.
(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.)