The two factors needed for the rise in Europe's markets to continue

Europe's stockmarkets are on average up more than 20% this year.

As in the rest of the world, this performance is attributable to a catch-up from the market slump in Q4 2018 and to substantially lowered estimates that were a lower bar to clear. More recently, increasingly dovish central banks, a reasonably good reporting season, a perceived de-escalation in the trade dispute and stabilisation in leading indicators gave the stockmarkets additional impetus. Obviously, cyclical and export-oriented stock markets such as Europe benefit disproportionally from this. Finding interesting opportunities in Europe's cyclicals As a result, the European St...