EUROPE - European equities have been given a fillip by the pick-up in the US economy, Barclays Global Investors claims.
The fund manager’s chief economist, Haydn Davies, said stock markets in the Netherlands and Switzerland topped the list for value.
He explained: “European economies are not doing particularly well at the moment but they are dominated by multinationals and the effect of the US picking up is good news for them.
“The improving economic environment will help to lift equities,” he stressed.
However, Davies added that while the brighter global outlook would boost UK equities after a three-year bear market, they would continue to remain comparatively expensive.
“UK equities still look attractive relative to gilts, despite bond yields’ recent climb.
“But the attractiveness of UK equities is hampered by the fact that other markets offer better value”.
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