F&C Eurotrust repurchases 640,000 shares

The £285.6m F&C Eurotrust has repurchased 640,000 of its own shares in recent weeks to take advantage of weak markets and a discount to NAV. Trust manager Stephen White said the buyback, funded by borrowings, will give shareholders geared upside exposure ahead of expected market growth. The discount on the trust, which was -18.5% on 14 February, widened to -19.5% on 18 February, the day after the most recent repurchase of 40,000 shares was announced.