22nd Oct 2015 14:15
LONDON (Alliance News) - BlackRock Greater Europe Investment Trust PLC Thursday reported a rise in net asset value per share of 7.5% in its recent financial year, outperforming the FTSE World Europe ex UK Index, which rose 1.3%.
It proposed a final dividend of 3.35 pence for the year to end-August, taking its total dividend for the year to 5.00 pence, up from 4.70 pence a year before.
The trust said that European equities had performed strong since the beginning of the year, buoyed by the European Central Bank's commitment to quantitative easing, recovering economic momentum and a stabilising political backdrop. However, markets continued to be volatile over the possibility of a Greek exit from the Eurozone, and as the year progressed, concerns also emerged about the slowdown in China and other emerging markets.
"Stock markets globally remain caught between concerns about a Chinese economic slowdown on the one hand, and fears about the path of US interest rates on the other. Our managers do not believe, however, that the current slowdown in China will prompt the start of a global economic recession and the resulting onset of a bear market," the trust said in a statement.
Shares in BlackRock Greater Europe Investment Trust were up 1.7% at 244.00 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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