NEW YORK — The S&P/Citigroup Developed Markets equity index rose 1.2% in January, while the S&P/Citigroup Emerging Market equity index fell 0.11%, according to a Standard & Poor's news release. In January, 21 of the 27 developed markets posted an average gain of 3.27%. The S&P/Citigroup U.S. Stock index component of the developed markets index, which consists of 3,378 companies, rose 1.82% for the month. By contrast, the S&P 500 stock index rose 1.51% in January.
Developed markets outside the U.S. rose 0.58% for the month. Japan was up 0.96%, the United Kingdom was down 0.24%, and Europe overall was up 0.83%.
Of the 26 emerging markets, 15 reported gains for the month, led by Nigeria, up 20.07%, and Pakistan, up 14.42%. Venezuela lost 33.95% "due to economic and political concerns," the S&P statement said.