The Euro Stoxx 50 (SX5E) is a widely used benchmark for European equities. The index returned 11.73% to investors in the first six months of the year. This is lower than that 17.93% returned to shareholders in the first quarter of the year.
The second quarter of the year was a volatile ride for equity investors. Markets were dominated by news on Greece on whether or not the Greek prime minister would give in to creditors’ demands on austerity measures.
Despite this event risk in the markets, European equity markets kept on trading in positive territory for the first six month of the year despite the volatility in the second quarter.
However, for those investors who didn’t just base their performance on that of the market as a whole but took well calculated risks on individual holdings to try and outperform the markets, the following were the top performers in the index:
Airbus Group SE (40.75% up in H115, indicative gross yield of 1.99%)
Airbus Group SE manufactures airplanes and military equipment. The Company produces commercial aircraft including the Airbus, military fighter aircraft, military and commercial helicopters, missiles, satellites, and telecommunications and defense systems, and offers military and commercial aircraft conversion and maintenance services.
ING Groep NV-CVA (36.75% up in H115, indicative gross yield of 0.79%)
ING Groep N.V. offers financial services to individuals, corporations, and other institutions. The Company offers corporate, investment, and private banking services, asset and portfolio management, treasury services, and insurance. ING Groep has offices throughout the world.
Intesa Sanpaolo (34.27% up in H115, indicative gross yield of 2.11%)
Intesa Sanpaolo attracts deposits and offers banking and financial services. The Bank offers consumer credit, asset management, Internet banking, merchant banking, securities brokerage, factoring, and lease financing services, and manages mutual funds. Intesa Sanpaolo operates branches throughout Italy, and offices elsewhere in Europe, Asia, and the United States.
Inditex (22.99% up in H115, indicative gross yield of 0.89%)
Industria de Diseno Textil, S.A. designs, manufactures, and distributes apparel. The Company operates retail chains in Europe, the Americas, Asia, and Africa.
Societe Generale SA (19.66% up in H115, indicative gross yield of 2.80%)
Societe Generale SA attracts deposits and offers commercial, retail, investment, and private banking
services. The Bank offers consumer credit, vehicle lease financing, information technology equipment leasing, life and non-life insurance, custodian services, trade and project financing, currency exchange, treasury services, and financial and commodities futures brokerage services.
LVMH Moet Hennessy (18.83% up in H115, indicative gross yield of 1.99%)
LVMH Moet Hennessy Louis Vuitton SE is a diversified luxury goods group. The Company produces and sells champagne, cognac, perfumes, cosmetics, luggage, watches and jewelry.
Daimler (18.37% up in H115, indicative gross yield of 2.92%)
Daimler AG develops, manufactures, distributes, and sells a wide range of automotive products, mainly passenger cars, trucks, vans and buses. The Company also provides financial and other services relating to its automotive businesses.
AXA SA (17.83% up in H115, indicative gross yield of 4.15%)
AXA SA is an insurance company which also provides related financial services. The Company offers life and non-life insurance, savings and pension products, and asset management services. AXA operates in both domestic and international markets.
Sanofi (16.63% up in H115, indicative gross yield of 3.16%)
Sanofi is a global pharmaceutical company that researches, develops and manufactures prescription pharmaceuticals and vaccines. The Company develops cardiovascular, thrombosis, metabolic disorder, central nervous system, internal medicine and oncology drugs, and vaccines.
Deutsche Telekom (16.60% up in H115, indicative gross yield of 3.25%)
Deutsche Telekom AG offers telecommunications services. The Company offers a full range of fixed-line telephone services, mobile communications services, Internet access, and combined information technology and telecommunications services for businesses.
Kristian Camenzuli is Investment Manager at Calamatta Cuschieri. For more information visit, www.cc.com.mt . The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice.