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Global banking stocks appear to ignore the headlines, says Russell Indexes

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Whilst a number of large global banks face mounting legal costs and inquiries from regulators, global banking stocks have continued to show strong performance, according to Russell Indexes.

Within the Russell Global Index, Banks: Diversified industry subsector has returned 14.9 per cent year-to-date and 4.1 per cent month-to-date as of October 29. This subsector has outperformed the Index thus far in October.
 
Within the Russell Developed Europe Large Cap Index, Banks: Diversified industry subsector has returned 22.6 per cent year-to-date and 6.6 per cent month-to-date as of October 29, outperforming the Index for both time periods.
 
And within the US large-cap Russell 1000 Index, Banks: Diversified industry subsector has returned 21.9 per cent year-to-date and 2.2 per cent month-to-date as of 29 October. This subsector has outperformed the index year-to-date.
 
"Russell Indexes seek to provide an unbiased and comprehensive picture of the global equity market environment and as a result can serve as powerful tools for investors.” says Gareth Parker, director of research and product development for Russell Indexes Europe. “In this case, the ‘deeper dive’ analysis can help to separate headline perception from performance and provide perspective on global bank performance.”

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