Inflection point for peripheral Europe?

Inflection point for peripheral Europe?

Following their painful multi-year internal devaluations, peripheral European economies are now much more competitive, says Greg Bennett, fund manager at Argonaut Capital Partners

The biggest push-back to a constructive view, and bullish positioning in the peripheral European stock markets is that these are marginal assets. The success of the investment is too binary, and too dependent on investor risk appetite, as well as the overall path of the global economy. However, the sources of risk in the global economy are shifting, as are the opportunities for return. Leading economic indicators such as the Markit Eurozone Composite Purchasing Managers index (PMI) have posted readings above 50 for ten consecutive months now, with April's reading of 54 being the highe...