Investors seeking returns from the buoyant American market are turning to European stocks which have significant US exposure but are trading at a discount to their transatlantic counterparts, equity investors say.
Groups such as UK defence group BAE Systems, France’s Schneider Electric and pharmaceutical giant Novo Nordisk are among the big European names that have risen sharply this year as investors hunt for cheaper, similar versions of top-performing US companies.
BAE has risen 17 per cent, Schneider is up 29 per cent and Novo Nordisk has gained 11 per cent.
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