Scepticism mars outlook for European corporates

conference

The European macro outlook is unfavourable and the corporate restructuring theme overblown, but Ne...

The European macro outlook is unfavourable and the corporate restructuring theme overblown, but New Star's Richard Pease remains confident mid-caps continue to provide rich pickings. Pease, manager of the group's European fund, told delegates at the May Mallorca Investment Week conference: "I'm sceptical in many ways about the macro economic background as there are a lot of issues that are still not resolved. For example, it is difficult to sack staff or management, meaning European companies are behind the curve when it comes to restructuring." The strong euro, high unemployment and s...