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A Dynamic Eurozone: Russell Eurozone Index Indicates a Strong Start to 2013 for European Equities

SEATTLE, WA -- (Marketwire) -- 01/10/13 -- European equity markets have made a strong start to 2013, showing positive returns year-to-date as of Monday 7th January, as reflected by the Russell Eurozone Index returning +2.4% in the first week of the year. In addition, Dynamic-oriented stocks have outperformed Defensive-oriented stocks for this same time period, with the Russell Eurozone Dynamic Index returning 3.4% and the Russell Eurozone Defensive Index returning 1.1%. This follows a similar pattern from the fourth quarter of 2012, in which the Russell Eurozone Dynamic Index (+8.3%) also outperformed the Russell Eurozone Defensive Index (+4.1%).

The Russell Eurozone Index has indicated that Greece (+8.7%) has been the top performing country so far in 2013 (as of 1/7/13), followed by Finland (+5.3%) and Italy (+4.2%). Bringing up the rear in the Russell Eurozone Index are Germany (+1.6%), France (+1.9%) and The Netherlands (+2.2%).

"European equities remain volatile and far too dependent on policy progress yet have shown strong relative performance as evidenced by the recent index returns," said Wouter Sturkenboom, investment strategist with Russell Investments Europe. "Recent returns for the European equity markets suggest that crisis level policy concerns may have abated somewhat in this region as the U.S., at least temporarily, solved its 'fiscal cliff' issue. And strong performance by dynamic-oriented European stocks in 4Q and 2013 to date suggests a continued 'risk-on' stance by European investors."


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Index / Index Country Constituent       4th Quarter 2012   2013 YTD a/o 1/7
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Russell Eurozone Index                        6.3%               2.4%
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Russell Eurozone Defensive Index              4.1%               1.1%
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Russell Eurozone Dynamic Index                8.3%               3.4%
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Greece                                        9.5%               8.7%
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Finland                                       9.2%               5.3%
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Italy                                         7.8%               4.2%
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Austria                                      15.5%               3.5%
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Spain                                         7.6%               3.4%
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Luxembourg                                    4.4%               2.9%
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Ireland                                       2.0%               2.9%
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Netherlands                                   2.6%               2.2%
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France                                        8.1%               1.9%
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Germany                                       5.9%               1.6%
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Source: Russell Investments

Please note: Indexes are unmanaged and cannot be invested in directly. Returns represent past performance, are not a guarantee of future performance, and are not indicative of any specific investment. Russell's publication of the Indexes or Index constituents in no way suggests or implies a representation or opinion by Russell as to the attractiveness of investing in a particular security. Inclusion of a security in an Index is not a promotion, sponsorship or endorsement of a security by Russell and Russell makes no representation, warranty or guarantee with respect to the performance of any security included in a Russell Index. Index returns are presented in euro-denominated terms. Russell Eurozone Index country constituent Belgium was not included because it had one constituent with more than a 50% weighting.

Opinions expressed by Mr. Sturkenboom reflect market performance and observations as of January 7, 2013 and are subject to change at any time based on market or other conditions without notice. Please remember that past performance does not guarantee future performance.

The Russell Global Index includes more than 10,000 securities in 48 countries and covers 98% of the investable global market. All securities in the index are classified according to size, region, country and sector. Daily Returns for the main components are available here: http://www.russell.com/indexes/data/daily_total_returns_global.asp

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