SEATTLE, WA — (Marketwire) — 12/22/11 — Since UK Prime Minister David Cameron vetoed the proposed European Union treaty at the Brussels summit on Friday, December 9th, the Russell UK Index has reflected stronger performance than the broader Russell Developed Eurozone Index and the Russell Developed Europe ex-UK Index.
This is not a new trend, however, as the Russell UK Index has also outperformed the Russell Developed Eurozone Index and the Russell Developed Europe ex-UK Index for the year-to-date, one-year, three-year and five-year periods as of December 21st.
“The EU summit represented a step forward in that the leaders agreed upon the need and presented a long term structure aimed at ensuring fiscal stability. Sadly, that one step was not sufficient in itself, and markets are doubtful this action will stem the crisis,” said Russell Europe-s head of capital markets John Velis. “The Russell European equity indexes reflected the market-s skepticism for some time now. The UK-s lack of cooperation in the summit probably won-t hurt the UK market-s performance which has been better than the continent-s despite a weak macroeconomy. The Russell UK Index is less directly affected by the Euro turmoil.”
Opinions expressed by Mr. Velis reflect market performance and observations as of December 21, 2011 and are subject to change at anytime based on market or other conditions without notice. Please remember that past performance does not guarantee future performance.
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