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A rebalancing in Europe and ongoing concern over Greece has dominated the headlines over the month. Join William Hobbs, Head of Equity Strategy, and Rupert Howard, Senior Portfolio Manager, as they consider the impact on portfolio positioning.

Rupert notes that a significant increase in German consumer spending activity may herald a long hoped for rebalancing in Europe and believes that, despite continuing uncertainty over Greece, markets have become increasingly sanguine about the issues and potential implications - further supporting his conviction in the region.

Looking ahead, Rupert’s view is that the UK election on 7 May is unlikely to have any significant influence on the direction of the UK economy. He assigns greater importance to the macroeconomic trends emerging from the US and Europe.

Download the graphs referred to [PDF, 27KB]