Eastern pressure starts to drive through change on continent

The Debate

This week's Conjecture debates the opportunities and outlook for Europe

Often seen as a continent dogged by outdated labour laws and poor GDP growth, Europe has been revitalised by the accession of several countries to the EU last year. This week's Conjecture debate looks at opportunities in these new areas as well as old stalwarts such as France and Germany. Present were William Davies, head of European equities at Threadneedle, and PJ Davies, a European portfolio manager at Pioneer. What is your broad outlook for European markets? PJ Davies (PJD): Notwithstanding the good run in markets last year, we think valuations in Europe are attractive, with a p/e o...