UK earnings faring well despite global slowdown

UK equities are still attractive despite the more difficult global macroeconomic back drop, according to Jacob de Tusch-Lec, manager of the Artemis Capital fund. Despite the collapsing US housing market, highly indebted US consumer, and rising interest rates, de Tusch-Lec said UK equity valuations are still attractive bar a melt down in earnings. Corporate balance sheets are still strong and profits and dividends are growing at a healthy rate, he said. The dividend yield of the FTSE All-Share is still above 3% and growth is above its 40-year average. Meanwhile, double digit UK earnings pe...