Questions arising over recovery sustainability

While investors have been growing in confidence recently, Schroders European equity manager Adriaan ...

While investors have been growing in confidence recently, Schroders European equity manager Adriaan de Mol van Otterloo believes a sustainable improvement in economic growth across Europe looks unlikely until 2004. While recent market gains are encouraging, the group remains cautious as it thinks the economic outlook is mixed. He says: "Growth forecasts for the eurozone have been revised down for 2003 and the stronger euro may mean there are further earnings downgrades to come." In view of these macroeconomic uncertainties, de Mol van Otterloo has been targeting good quality, undervalued...