Global equities: What's in store for 2014?

This year has scope to be another good one for global equities. What's more, as the dominance of macroeconomic factors on equities recedes, market leadership should begin to transition towards companies able to thrive in a more normal economic and monetary policy environment. Having retreated since 2010, global growth in 2014 should accelerate, with full-year global GDP growth likely to be in the region of 2.9% (see figure 1). We expect this improvement to be driven by Western economies, with Europe and the US both growing faster than in 2013. A year for stock pickers This year will...