Earnings growth drives bullish view of Europe

With a housing market slump and sagging consumer confidence hitting the US, investor interest in European equities has been snowballing

Global interest in European equities has been snowballing and investors are now more bullish on the region than at any point since 2002. Merrill Lynch's latest monthly survey suggests managers believe European companies currently have greater scope for earnings growth than their counterparts across the Atlantic. James Macmillan, head of European equities at BlackRock Mlim, said this is not a sudden surge of investor interest and it has been building for some time. He believes the key is that relative earnings momentum is stronger in Europe compared to the US. "It is no secret the US eco...