A fresh breath of life for Europe's banks

The European banks that shareholders deserted in droves two years ago are starting to look more attractive to value investors.

As sovereign risk slowly abates, investors are looking at European equities once again, especially as valuation metrics suggest they are rich for pickings. Financials specifically are in focus as the sector looks cheap on all fronts and is certainly cheaper than the Australian equivalent.

Europe in general is back on the radar for many investors and Macquarie has gone as far to tip a 15 per cent total return for next calendar year. 


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