European markets have a "better than even" chance of ending the year 5-10pc higher than currently standings, according to Baring Asset Management's director of European equities James Buckley.
Buckley, who is responsible for the group's European Growth Trust and Europa fund, believes markets will be pushed up partly because investor sentiment has been so negative in recent weeks, with an excess of long only investors now sitting on cash. Speaking at Incisive Media's Senate Investment Conference in Venice, he remarked that the question is "not are European equities cheap, it is whether they are cheap enough and will they get cheaper?" Buckley picked out telecoms and financials as sectors that are likely to benefit. In the past week, he has reduced his underweight to the latte...
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