World stock markets recovered in April after a shaky start to 2001, according to the FTSE monthly world markets report.
Equities revelled in US interest rate cuts and the hope that the US economy was over the worst, continued the report. The best performing market was Turkey, bouncing back to a return of 45.67% following steep losses in February. Finland, also fared well in second place, led by heavy-weighted telecoms giant, Nokia.
According to the report, the emerging Asia-Pacific and Asian regions were the only equity markets to lose money in April, as political and economic uncertainties led investors to bypass the region in favour of north-east Asia and China.
The worst performer was Indonesia, down 15.89% in dollar terms, with Malaysia, Taiwan and the Philippines not far behind.
Sector-wise, European tech markets bounced back. However, the utility sector was the least rewarding investment, with transport the worst performer. The water sector suffered moderate losses and electricity yielded only slim returns. Pharmaceuticals also fell slightly.
By Janet Du Chenne
In this week's Pensions Buzz survey, we want to know whether or not you agree with Lord Myners' opinion that asset owners, such as pension funds, are substantially to blame for short-termism in business.
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Plastics manufacturer Carclo has missed yet another dividend as it continues to battle its defined benefit (DB) pension funding shortfall.