BioCentury
ARTICLE | Finance

Value-driven in Europe

January 3, 2005 8:00 AM UTC

As in the U.S., there was little in the way of momentum investing in Europe last year, with value investors picking their shots to provide a decent 2004. This year looks to be more of the same, promising good returns for investors who choose the right companies.

Indeed, the European indices showed a rare turn as both outgrew their U.S. counterpart in 2004. The BioCentury London Index was up 27% on the year, while the BioCentury Europe Index was up 21%. In comparison, the BioCentury 100 Index, which is dominated by U.S. companies, was up 10% (see "Historical Index Performance"). ...