Fidelity European says FY return before finance costs and taxation narrows (Fidelity European Va)

        LONDON (Thomson Financial) - Fidelity European Values PLC reported a
narrower full-year net return before finance costs and taxation. 
    The company said that while the absolute return was strong, the performance
was slightly disappointing relative to the benchmark FTSE World Europe (ex UK)
Index. It said this was partly due to a lack of exposure to the consumer goods,
telecommunications and technology sectors as well as the zero weighting in Nokia
also affecting returns. 
    The company reported a net return before finance costs and taxation of about
109.5 mln stg for the year to end-December, compared with 127.9 mln stg a year
ago.
    The net asset value per share of the company returned 13.4 pct. 
    The company is recommending a final dividend of 13.75 pence per share.



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