Trusting the peripheral nations

SOUTHERN EUROPE

clock • 4 min read

Companies geared to the once-struggling peripheral nations of Europe are back on track, says Jim Campbell and Francesco Conte, managers of the J.P. Morgan European Smaller Companies trust.

The medicine of austerity has been hard to swallow for peripheral European economies. But at a corporate level, the region has performed well. There are many world-leading companies in Europe for whom geographical location is little more than an accident of history. But after a strong performance from European stocks as a whole in 2013, and from smaller companies in particular, the signs are – however nasty the aftertaste – the medicine is working at an economic level. This is positive for companies more geared to their local economy – particularly in the once beleaguered peripheral stat...

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