Equity valuations prove attractive

Although the economic situation in Euroland remains poor, valuations in the equity markets look attractive. Slow economic growth is forcing companies to restructure, which in the longer term will prove helpful. Research from Credit Suisse Asset Management (CSAM) shows that revisions in Europe's growth expectations for 2005 have signalled some countries are getting closer to recessionary levels. However, European equities have attractive valuations relative to global equities. Philipp Vorndran, country head of CSAM Germany, says: "All our asset allocation groups like European equities a...