Buy into recovering Europe

The recovery in European markets has revealed some great stocks at attractive prices. Portfolio manager Alexander Fitzalan Howard tips three.

Each week, a professional investor tells MoneyWeek where he'd put his money now. This week:Alexander Fitzalan Howard, portfolio manager, JPMorgan European Investment Trust.

In the second quarter of 2015, 75% of European companies beat analysts' sales estimates, while the same proportion either matched or beat profit forecasts. That's an improvement on the first quarter, which shows that momentum is on their side. Yields are lower than in the recent past, but that's a good sign broadly speaking, higher yields have tended to be associated with periods of crisis.

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Alexander Fitzalan Howard is portfolio manager of the JPMorgan European Investment Trust.