Down Under Goes The ASX 200
Saxo Bank | Jul 23, 2013 07:23AM ET
Our developed equity markets' ranking model continues to dislike Australia driven by weaker relative momentum and above valuation. The model's favourite equity index is the AEX index, Netherlands' leading equity index.
Based on the latest incoming data, the model's current ranking can be seen in the table below. The top three continues to be dominated by European equity indices with the AEX, DAX and CAC indices leading the pack. Oceania, NZX 50 and S&P/ASX 200 indices, are dominating the bottom together with the SMI index.
Overall, valuations across all developed markets look favourable with this year's P/E ratio at 13.9x and next year at 12.4x. The price-to-cash-flow remain at historical low levels at 8.0x and the dividend yield continues to be historically high at 3.4 percent.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.