Take advantage of Europe's bargain basement share prices

Professional investor Chris Hiorns believes European markets offer you the chance to invest in a range of strong, profitable firms with global footprints. Here, he picks three cheap stocks to buy now.

Each week, a professional investor tells MoneyWeek where he'd put his money now. This week: Chris Hiorns, manager of the Ecclesiastical Amity European Fund.

Over the last year, the financial markets have seen extreme volatility as the credit crisis and global economic slowdown have swept across Europe and pushed most countries into deep recession. The euro's strength has also hurt exporters even as global trade has stagnated and industrial output dived. The economic outlook remains grim. And while the equity market has rallied from its March lows, we believe this is unlikely to be sustained.

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Suez Environnement€19.95€9.70€12.52
Merck KGAA€93.92€53.00€63.02
Metro€52.15€16.72€33.04
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