Germany takes the shine off growth

Professional Adviser
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By Richard Pease, a fund manager at New Star Asset Management The third quarter of this year pro...

By Richard Pease, a fund manager at New Star Asset Management The third quarter of this year proved a torrid time for European equity markets. Germany's Dax and France's CAC indices were off 37% and 29% respectively, compounded by rights issues that depressed prices. Such spectacular falls were bound to be followed by a rally, as occurred in October, with these indices gaining 13.9% and 13.4% respectively. This has recouped losses in only a very limited way, leaving value in some stocks in the market. Can the recent rises be sustainable? Recent economic news emanating from Eur...

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