Eoin Treacy's view We include a number of utility indices in the above list because they can be used as a barometer for companies with sound cashflows. Right now, the Dow Jones Utilities Average yields 4.78% against a P/E of 11.6. It failed to sustain the break above 400 in December and fell back into the base. The bears currently have the upper hand and a sustained move back above 365 would be required to indicate demand has regained the upper hand. Nevertheless, the sector's yield is relatively secure and is globally competitive.

(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.)