Despite a technical recession on the continent – and without the banking problems facing the US – there are many positives for Europe
- Although we’ve seen banking turmoil and rising rates, the stock market has been resilient due to expectations of cuts before year-end
- European equities have outperformed the US by 30% since autumn, reversing a decade of underperformance
- Excess savings, strong personal balance sheets and falling energy prices are positives for Europe