Growth and Value Creation: A 10-year comparison of the Performance of the major Western Stock Markets

The major Western stock markets (United States, Germany, United Kingdom and France) have performed strongly over the last 10 years. The Total Shareholder Reurn, the TSR, of the main stock market indices in these countries has been in excess of 9% per annum. However, this performance has varied widely between stock markets, between sectors and between companies in the same sector. One thing remains unchanged: growth is the most powerful lever for creating value.

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