- DJE - Equity Market Neutral Europe XP (EUR)
- DJE - Equity Market Neutral Europe PA (EUR)
DJE - Equity Market Neutral Europe XP (EUR)
- As at:
- 92.07 EUR
- 92.07 EUR
With few exceptions the international stock markets gained in December. A key factor was the "Phase One" trade agreement which the USA and China agreed on and which is to be signed in mid-January. It essentially means that the USA will waive the introduction of various announced import duties and that China will import more agricultural goods from the USA. In Europe market participants also reacted positively to the Conservative victory in the British general election. In Germany the ifo business climate index improved again but various German and European economic indicators continued to disappoint. In this market environment the broad European market index STOXX 600 performed well again in the last month of trading - as it did throughout the year - with a 2.1% price increase. In particular the retail sector performed excellent achieving a growth in height of 6.7%. However, as this sector is one of the sectors with a low weighting in the overall market the price increases of the banking (+4.2%) and health care (+2%) sectors made a greater contribution to the index increase. Telecommunication stocks (-4%) and the automotive sector (-2%) performed negatively. The DJE - Equity Market Neutral Europe distributed dividends of Euro 0.36 per share in December and – after adjustment of this distribution - generated a surplus of 0.16%. This was mainly due to a clearly positive selection effect in the sectors raw materials and industry. While the overweighting in the construction & materials sector paid off, it tended to hurt in the automotive sector. In addition stock selection in the travel & leisure sector did not deliver a positive contribution this month.