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Article: A slow-fused European rocket
- Article from:
- International Herald Tribune
- Article date:
- December 21, 2004
- Author:
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Barbara Wall
International Herald Tribune
12-21-2004
The Champagne is flowing, and the year-end party season is in full swing, but few equity fund managers in Europe will be staking their Christmas bonus on a January rally.Rod Marsden, manager of JO Hambro Continental European Equity fund, said that he expected a tough first quarter for European equities.''There are a number of negative macroeconomic factors that are difficult to overlook, such as the weak dollar and strong oil price,'' he said. ''Also, we anticipate earnings downgrades in the industrial sector early next year, which could hurt markets in the short term.''But before you reach for the antidepressants, check out Marsden's ...