Oil and energy gain favour as equities continue to be attractive

Macro and micro fundamentals remain positive for equities, says Marco Piersimoni, head of strategy at Credit Agricole Asset Management. On a macro level, global growth continues apace. "Asia, Europe and Japan are contributing to growth much more than they did in the last decade, the US less. This is a better situation as global growth is now more balanced and is being maintained by a complex of economies. In terms of the micro environment, we are not close to the excesses of the 90s where companies were overleveraging balance sheets and investing too much. Instead companies have healthy bal...