Standard & Poor's announced that the world's emerging and developed markets continue to post positive returns in 2007. According to Standard & Poor's global stock market review, The World By Numbers, the world's developed equity markets gained 2.98% in May while emerging stock markets rose 4.56% for the month.

"World equity markets continued to prosper in May, pushing the S&P 500 to a record high close. In fact, their performance over the past 12 months has been nothing short of phenomenal with the average equity market gaining 46%," says Howard Silverblatt, Senior Index Analyst at Standard & Poor's.

During the month of May, 24 of the 27 developed world equity markets posted gains with an average return of 3.99%; Italy (1.18%), Sweden (1.13%) and Switzerland (0.87%) were the lone decliners. 21 of the 25 emerging markets posted positive gains in May averaging 6.39%. Jordan (3.87%), Morocco (3.63%), Russia (6.04%) and South Africa (3.00%) all showed losses for the month.

All 10 GICS sectors continued to show gains in May led by Materials (+6.48%) and Energy (+6.44%). Marine issues continued to increase, adding another 7.90% to their April gain of 11.60%; their 12-month return of 68% leads all sub-industries.

World interest rates increased for the month. The People's Bank of China raised its one-year lending rate 18 bps to 6.57%, the Bank of England raised its rate to 5.50% and Norway also increased to 4.25%.