(Alliance News) - European Opportunities Trust PLC said Friday its net asset value rose in the six months to November 30.
The trust said at November 30, its net asset value rose 2.8% to 845.32 pence from 822.23 pence in at May 31.
During the period, the total return on the NAV per share, with dividends added back, was 3.5%
This performance was behind the total returns on the company's primary benchmark, the MSCI Europe Index, which was 7.1% and its secondary benchmark, the MSCI Europe ex-UK Index with 8.1%.
However, the company said that as at February 25, performance had improved and since the beginning of the year the total return of the NAV per share was 3.9% compared to the total returns on the MSCI Europe of negative 2.6% and the MSCI Europe ex-UK Indices of negative 2.1%.
Looking ahead, the company said since the period end there has been some optimism for the outlook of the British economy and stock market.
However, there continue to be concerns around other European economies, which may result in ongoing volatility in European stock markets over the coming year, the company noted.
The company also said it is too early to to fully asses the long-term implications of coronavirus on the companies held within its portfolio.
European Opportunities shares closed 4.1% lower at 774.00 pence each on Friday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
