Europe outlook: Greek gridlock and Italian banks

By Rob Burnett, Investment Director, Head of European Equities

As investors await a resolution of Greece’s repayment difficulties, we anticipate a period of consolidation in the European market over the next few weeks. Our base case is that the Greek government and the European Central Bank (ECB) will come to a solution, particularly given the IMF’s recent decision to delay the next repayment to them until the end of the June. It is incredibly difficult to follow the toing and froing of the daily headlines surrounding Greece. However, the IMF delay has given the negotiators on both sides more time to come to a concrete conclusion and we believe a resolution will be found. This should support the market in the second half of 2015.

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The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you as to any change of our views. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. This is not a solicitation or an offer to buy or sell our funds. All information is given in good faith but without any warranty. Neptune does not give investment advice and only provides information on Neptune products.

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