Savvy investors can cash in on shares in the Eurozone, a top fund manager has suggested.
A top fund manager has released a state-of-play comment on the current health of the European equities markets.
Jeff Taylor at Invesco Perpetuel advised investors that there remain "good opportunities" in the Eurozone, despite the recent and ongoing market turbulence caused by the credit crunch. In turn, this has had a knock-on effect on companies' profits, prompting widespread earnings down grades particularly in the financial services sector.
However, this apparent deflation could actually be turned to the advantage of savvy shareholders if they are "selective" enough, the expert suggested.
"The risk of earnings disappointments is not evenly spread across the market and as a result this means that there are some great stock specific opportunities to take advantage of, especially after recent market weakness which has actually left some parts of the market looking very attractively valued," Mr Taylor said.
"When you believe a company's earnings are likely to be resilient you can be a lot more convinced that a share that looks cheap really is cheap," he added. "Overall, while 2003 to 2007 saw a rising tide lifting all boats the current market back drop means that investors need to be far more selective in their stock picks to beat the market."
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