World Equity Index Valuations Tables
Comment of the Day

January 23 2013

Commentary by Eoin Treacy

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.)

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