As the calendar turned to November, European equities showed signs of life. In the UK the main index rose around 0.1 %, while Paris, Milan and Frankfurt delivered stronger gains of about 0.2 %, 0.6 % and 0.9 % respectively. Data published for the eurozone manufacturing sector registered a PMI reading of 50 in October, up from 49.8 the prior month.
After a stretch where central‑bank decisions, macro uncertainty and earnings volatility loomed large, the fact that production is rising (albeit slowly) removes one layer of concern. Combined with commentary suggesting that corporate earnings remain solid and that the window for share buy‑backs may be reopening, the conditions for risk appetite appear to be improving.
Fidelity European Trust PLC (LON:FEV) aims to be the cornerstone long-term investment of choice for those seeking European exposure across market cycles.
