Traditional economy stocks are a less obvious value play than in the UK because they have not fallen...
Traditional economy stocks are a less obvious value play than in the UK because they have not fallen as far behind the tech, telecom and media companies. A major reason for this difference between the UK and the Continent is a technical one, based on the Vodafone and Mannesmann deal. Jeff Currington, head of European equities at Norwich Union, says: "UK institutions had to increase their exposure to telecoms at the expense of selling traditional companies. This did not happen in Europe, and the absolute share price performance has been quite good, so there is not the same degree of value ...
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