Europe

Baillie Gifford's European equity specialist Tom Coutts said the Italian election was not a game-changer for markets, but has thrown up opportunities for stockpickers as uncertainty hit share prices.

The worst of the eurozone debt crisis is over, according to Alliance Trust Investments' Fiona MacRae, as capital flows in the region start to reverse.

Europe is on the road to economic recovery as Ireland becomes the first country to emerge from the financial crisis, according to T. Rowe Price's European equity manager Dean Tenerelli.

Jupiter's Gregory Herbert has been promoted to manage the group's European Income fund, taking over from Cédric de Fonclare.

The situation in Cyprus could have a far more negative impact on the credit market than it has so far, Kames Capital's Melanie Mitchell has said.

European markets ended Tuesday lower as concerns over Cyprus and uncertainty over the European debt crisis weighed on investor confidence.

Cyprus' plan for an unprecedented 10% tax on savers has been dubbed a "monumental error of judgement" by one commentator, but it does leave some assets looking attractive.

ON EUROPE

EUROPE

Italy's embattled economy contracted 2.8% year on year in the fourth quarter, according to the final reading released this morning, worse than the 2.7% contraction previously thought.