Emerging and Developed Markets Gain in May

The world’s emerging and developed markets continue to post positive returns in May 2007, Standard&Poor’s said Thursday.
According to Standard & Poor’s global stock market review, The World By Numbers, the world’s developed equity markets gained 2.98% in May while emerging stock markets pushed ahead 4.56% for the month.
“World equity markets continued to prosper in May, pushing the S&P 500 to a record high close. In fact, their performance over the past 12 months has been nothing short of phenomenal with the average equity market gaining 46%,” said Howard Silverblatt, Senior Index Analyst at Standard & Poor’s, in a news release.
In May, 24 of the 27 developed world equity markets posted gains with an average return of 3.99%; Italy (1.18%), Sweden (1.13%) and Switzerland (0.87%) were the lone laggards. Meanwhile, 21 of the 25 emerging markets posted positive gains in May averaging 6.39%. Jordan (3.87%), Morocco (3.63%), Russia (6.04%) and South Africa (3%) all showed losses for the month.
All 10 GICS sectors continued to show gains in May led by Materials (+6.48%) and Energy (+6.44%). Marine issues continued to increase, adding another 7.90% to their April advance of 11.60%; their 12-month return of 68% leads all sub-industries.
The S&P/Citigroup World by Numbers Report for May is at www.standardandpoors.com/indices.