Halifax: EU stock prices rise 118%

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Halifax: EU stock prices rise 118%

Wed 14th May 2008

European Union stock prices have risen by 118 per cent over the past five years, according to Halifax.

The bank's research has revealed that EU share prices have grown by more than twice the rate of US share prices, with eastern Europe leading the way.

It found that eight of the ten EU countries with the largest growth in stock prices since 2003 were in that region, although only two EU nations - Slovakia and Luxembourg - recorded an increase in share prices over the last year.

Bulgaria meanwhile has seen share prices rise by 352 per cent in the same period, which is a growth rate six times greater than in the UK.

Martin Ellis, chief economist at Halifax Financial Services, said that eastern European countries "have clearly benefited from greater capital flows, especially foreign direct investment and the further integration of their financial markets within the EU".

Yesterday Halifax home insurance revealed that there is a total of £52 billion worth of jewellery inside British homes.

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