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Economic recovery fires up equities

Global stock markets have reflected the recovery of the developed world’s economies this year, particularly those of “peripheral” eurozone countries, but the latest performance figures also show that it has been a torrid year for many emerging markets.

Greece has been the best-performing equity market, according to the MSCI regional indices, with a 45 per cent gain this year in dollar terms, with Ireland in second place, with a 35 per cent gain.

Greece’s strong stock market returns follow its reclassification as an emerging market by MSCI in June, having been deemed a developed market by the index provider since 2001.

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