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As expected, enterprises are reaping the most out of weaker Euro this year against most counterparts. Euro has fallen to lowest level in more than a decade against dollar and Pound. And it seems with diverging monetary policy t is likely to stay for quite some time now.
Adding weaker Euro to the valuation model, European equities look very much cheap and affordable for longer term investments.
Euro is clearly benefiting the topline -
- Luxottica, Italian eyewear maker (Rayban) saw its revenue jump 20%, thanks to weaker Euro. Sales in North America rose by 29%. Sales in emerging markets rose by 18%.
- Sales at Luxury products maker, Gucci saw its sales rise by 17%. Profits rose by more than 100%.
With Impact of Euro, getting clearer it is best times to overweight European equities for next couple of quarters at least.
Greek and China crisis has just delivered the equities cheaper.
Eurostxx50 is currently trading at 3558, up 1.4% for the day so far.
