The European equity markets have been having a ripping year so far and the S&P Europe 350 added a further 6.9% during February, bringing the year-to-date returns to 14.7%.
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Every single one of the S&P Europe 350’s ten sectors finished in positive territory, as did the component contribution from every country in the index. The U.K.’s outsized contributed was exaggerated by currency movements; the euro continued to weaken over the month and closed at a seven-year low versus the pound.
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In our strategy charts, the S&P Europe 350 Buyback Index jumped into the lead for the year with a highly commendable 8.4% return for the month.
