RLAM's Lilley goes defensive against further downside in Europe

There is further downside to come in European equity markets, despite intervention from central banks...

There is further downside to come in European equity markets, despite intervention from central banks, according to RLAM’s Kevin Lilley. He said: “In recent weeks market commentators have been suggesting equity markets are forming a bottom. While there have been a number of market friendly actions from the US and other central banks, it is difficult for me to see that a bottom is in sight until both US house prices have found a floor and analysts become more realistic with their estimates. "It will need a coordinated effort from the Federal Reserve and the banking sector to halt the unde...