Europe

Pictet Asset Management has upgraded its European exposure to a full overweight, following the resolution of a Greek bailout deal and positive expectations for future earnings.

SVM's Hugh Cuthbert, co-manager of the All Europe SRI fund, has said the investment case for traditional utilities companies has come to a permanent end.

The Greek market has dropped 23% this morning as it reopened after a five week shutdown, implemented while the country battled to remain in the eurozone.

Market turmoil in China will prove a greater problem for European equity managers than the ongoing travails of eurozone member Greece, according to Argonaut Capital's Olly Russ.

Sam Morse, manager of the Fidelity European Values trust, examines the tailwinds for his favourite banking stocks.

Neuberger Berman's Jon Jonsson (pictured), senior portfolio manager of the $155m Global Bond Absolute Return fund explains why he has not reduced his short position in German bunds despite the recent sell-off.

Multi-asset managers have started reinvesting their high cash positions, with many topping up European exposure as Greece finally reaches a new deal with its creditors.

Thinktank New City Initiative (NCI) is calling for investment firms that only market their products in one country to be exempt from European regulation, such as AIFMD and MiFID II.

Greek banks could open for the first time in weeks as the nation's parliament passed through the fresh austerity measures required to secure a €86bn bailout package from the eurozone.