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Goldman ups exposure to European stocks

  • Betting on economic recovery in the eurozone, Goldman Sachs Asset Management recently doubled its overweight position in European equities to more than 8%.
  • After bouncing along the bottom for years, "there are some positive signs of improvement," says CIO of international equities Eddie Perkins.
  • One sector of note is pharmaceuticals trading at a 50% discount to their U.S. peers, says Perkins.
  • GSK, SNY, SHPG, AZN, NVS, BAYRY.PK, RHHBY.OB come to mind
  • One caveat, says Perkins, is emerging market exposure - listed European companies get one-third of their revenue from EM and to the extent those countries are weak, it could lead to poor results.
  • ETFs of interest: EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, DFE, FEU, FEEU.
  • Earlier: Eurozone unemployment drops for first time in 2 years.
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