The 'uneasy picture' in Europe

Perhaps surprisingly, Europe was the second best-performing regional stockmarket in the world in the first half of 2019.

However, it is still struggling to gain economic momentum, with data continuing to deteriorate, particularly in the manufacturing sector. The service sector has held up relatively well so far, but could easily follow suit. The international backdrop is at least partly to blame for this stuttering economic scene. Despite some positive news in the form of a lucrative trade deal with Mercosur (the South American trading bloc), Europe is exposed to other more negative trade issues. US tariffs on European auto sector exports could yet be introduced, and the region is also vulnerable to ong...