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12:00 AM
Oct 01, 2007
 |  BioCentury  |  Finance

Slow and steady

3Q Stock Wrap-up

Slow and steady

While last quarter's market volatility made for good headlines, biotech quietly ended in positive territory as it has every quarter this year. The BioCentury 100 Index registered a 6% gain in 3Q and is up 12% for the year.

Last quarter, the BioCentury benchmark outperformed broader U.S. market indices including the S&P, NASDAQ and Dow Jones, which ended up by 2%, 4% and 4%, respectively (see "Index Performance").

In Europe a different story emerged, as both the BioCentury London and BioCentury Europe indices ended 3Q in the red. Moreover, the divide between London and the Continent deepened, with the former down a hefty 14%, while the latter shed 2% (see "London vs Europe").

Biotechs with a market cap over $1 billion handily outperformed their smaller peers, with a 4.8%...

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