MSCI Europe Index Overview

The MSCI Europe index, a key benchmark for European equities, closed at 2433.87 on July 10, 2025. Over the past year, the index has experienced significant volatility, reaching a 52-week high of 2470.18 on July 9, 2025, and a low of 1954.78 on April 6, 2025.

Teleperformance’s Share Repurchase Program

On July 11, 2025, Teleperformance SE announced its share repurchase activities from July 7 to July 11, 2025, as part of a program authorized by its shareholders on May 21, 2025. The company purchased a total of 239,390 shares, with an average daily weighted purchase price of 87.29 euros. These transactions were conducted on the XPAR market, with the aim of share cancellation. Detailed transaction information is available on Teleperformance’s website.

Active International ETFs Outperforming MSCI EAFE

In the realm of international equity ETFs, active funds have shown the potential to outperform traditional benchmarks like the MSCI EAFE Index. As of July 10, 2025, the Fidelity Enhanced International ETF (FENI), T. Rowe Price International Equity ETF (TOUS), and JPMorgan International Research Enhanced Equity ETF (JIRE) have each outperformed the iShares MSCI EAFE ETF (EFA). TOUS has risen by 24.1%, FENI by 23.4%, and JIRE by 21.5%, compared to EFA’s 20.4% increase year to date. Over a one-year period, TOUS and FENI have outpaced EFA by over 300 basis points. Despite TOUS having the highest expense ratio at 50 basis points, its historical performance may justify the cost. FENI and JIRE offer more competitive fees at 29 and 24 basis points, respectively, compared to EFA’s 32 basis points.

Global Market Trends

The first half of 2025 saw unexpected winners in global stock markets, with significant gains outside the U.S. While U.S. stocks like Palantir Technologies saw substantial increases, sectors such as telecommunications, finance, and utilities led gains in Europe. The defense sector in Europe also performed well, supported by increased budgets. In Latin America, Brazil and Mexico excelled with strong performances in commodities, banking, and infrastructure. Emerging markets benefited from attractive valuations, stable commodity exports, and growing investor confidence. This highlights the potential for diversified investment strategies beyond popular tech stocks.