The world’s best portfolio managers are getting behind cheap European equities in 2024 – especially those listed in London and Paris.
As revealed in this month’s Top Rated Elite Companies report, the number of French AAA-rated Elite Companies rose sharply from 15 to 22 in January. The UK remains highly popular, too, with its top-rated shares climbing from 22 to 24.
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Many of the favourite stock picks of the top portfolio managers tracked by Citywire reflect the value on offer in European markets.
Big oil and gas companies, which trade at large discounts to US peers, are among the most popular stocks. These include Shell (GB:SHEL), TotalEnergies (FR:TTE), BP (GB:BP) and Mediterranean gas specialist Energean (GB:ENOG).
Oil and gas services companies are another feature. Britain’s Hunting (GB:HTG) moves up to AAA this month to join France’s Technip Energies (FR:TE) on a top rating….
