Latest GDP data shows that France has helped the eurozone economy outperform the more pessimistic consensus forecasts. Whether Germany is in recession remains to be seen.
The likelihood of a no-deal Brexit has reduced, but uncertainty prevails in the UK. In the EU, economic activity has fallen to a six-year low.
In a world of low bond yields, many investors struggle to extract a decent income from their portfolios, but European shares could be a potentially attractive option.
A sluggish outlook and low inflation suggest the European Central Bank is inching towards further stimulus, which we don’t think will be enough.