European Equities Strategy

Key points:

 

  • European Markets Better Balanced for 2020
    • Earnings have bottomed
    • Economic data improving
    • Attractive valuation
  • Key Risks to Our Scenario
    • Trade war uncertainties
  • Growth Versus Value: Growth Likely to Emerge as New Leader
    • Historically, value outperformance doesn’t last
    • Breakouts indicator similar to late 2016
    • Number of stocks on EFL at historic high 
  • O’Neil Top Three Recommendations