Germany's benchmark equity index rose 3.1 percent to its highest level in four months.

And while Russia's benchmark equity index rose more than 5 percent, most of the gains were limited to big energy companies and utilities.

The S&P 500 total return was -37.00% in 2008, and that was one of the best performing equity indices in the world.

Several insurance companies offer the option of having a portion of the return based on the performance of an equity index.

For an equity index the above fails mainly because it is difficult to group indices into peer groups.

Thus the bias ratio of a pure equity index will usually be close to 1.

For example, most equity indices have Bias Ratios falling between 1.0 and 1.5.

Basket warrants: As with a regular equity index, warrants can be classified at, for example, an industry level.

Malta's equity index surged by more than 60% in 2005, after a 40% rise in 2004.

Clients have been generally short on equity indices and the euro.