Analysts and portfolio managers at Lazard Asset Management say there are still good values to be found in share prices on both sides of the Atlantic, with some caveats.
Data covering the UK since the start of the “cult of equities” in the 1950s suggests yields on shares and corporate profits as a percentage of GDP are still at points where equities offer good value against fixed income. UK plc profitability still has “momentum, says Alan Custis, director and portfolio manager of UK equities. Gabrielle Boyle, senior marketing director and senior portfolio manager responsible fore European equities, says European stocks are not quite as cheap as UK ones. Return on equity is still “a lot higher” than Asia, Boyle says, suggesting a lot of recovery is ...
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