Europe - Strongest sectors steels, oil and chemicals

The ECB is taking a 'steady as she goes' stance. But this is not helping corporate Europe, with firms like Nokia citing the euro's strength as halting their sales growth. Meanwhile, European equities are showing signs of being impacted by global market conditions. But amid the gloom, we still believe there are opportunities. The major European banks have not been immune to the US economic woes, and market reaction to recent rights issue announcements such as UBS, and cost-cutting moves, have not made prospects any easier to call. But with most of the bad news already priced in by the mark...