{"id":17074,"date":"2023-06-02T03:10:12","date_gmt":"2023-06-02T07:10:12","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/germany-is-cooling-3-stocks-to-play\/"},"modified":"2023-06-02T03:10:13","modified_gmt":"2023-06-02T07:10:13","slug":"germany-is-cooling-3-stocks-to-play","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=17074","title":{"rendered":"Germany Is Cooling. 3 Stocks to Play."},"content":{"rendered":"
\n

Europe\u2019s stock market rally had to end sooner or later. Germany slipping into recession makes that seem like sooner. But there are still great companies to buy on the Continent.<\/p>\n

European equities went on a tear last fall when fears for the region started to look overblown. A warm winter, plus deft policy responses, avoided calamities expected when Russia cut off most natural gas exports. China scrapped its zero-Covid regime, expanding a key market for European, particularly German, manufacturers. The
\n iShares MSCI Eurozone
\n exchange-traded fund (ticker: EZU) has soared by 40% over the past eight months. The good news looks priced in by now. \u201cThe market has recovered to more reasonable levels,\u201d says Andrew Clifton, an equities portfolio specialist at
\n T. Rowe Price.<\/span>\n <\/p>\n

\n

New dangers are massing. China\u2019s recovery is sputtering. Colder weather might bring a new energy squeeze this year. Euro zone inflation remains above 6% (the U.S. is below 5%). The European Central Bank is likely to hike interest rates further to contain it. \u201cWe won\u2019t see cuts from The ECB until some crisis absolutely requires it,\u201d says Fred Copper, senior portfolio manager at Columbia Threadneedle Investments. <\/p>\n

Germany, which accounts for 30% of euro zone gross domestic product, is cooling with these macro winds. First quarter GDP numbers were revised down to -0.3%. That\u2019s a second straight quarter of economic shrinkage, technically a recession. Industry had a positive quarter, though, and companies added 56,000 jobs at the latest reading, says Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. \u201cIn value-added terms, I don\u2019t see a recession,\u201d he says. <\/p>\n

Whatever you call it, Germany\u2019s economic might is in slow decline, argues Carsten Brzeski, chief euro zone economist at Dutch bank ING. A retreat from globalization hurts the country, which sells both East and West. The fabled German auto industry dawdled while China grabbed the lead in electric vehicles and batteries. \u201cWill we see a rebound of the German economy? We will not,\u201d he concludes. <\/p>\n

All\u2019s relative in investing, however.
\n Schroders
\n still favors European shares over a U.S. that teeters near recession itself, says Bob Armstrong, the asset manager\u2019s investment strategist. They are cheaper, for one thing, trading at an average 13 times forward earnings, compared with 18 for U.S. stocks. The German market\u2019s p\/e ratio is 11. <\/p>\n

Germany\u2019s industrial machine, diminished or not, still offers attractive names, T. Rowe\u2019s Clifton adds, like
\n Siemens
\n (SIE.Germany),
\n SAP
\n (SAP) or
\n Deutsche Telekom
\n (DTE.Germany). \u201cSome of the criticism out there is doing the German economy a bit of a disservice,\u201d he says. He also cites \u201cdefensive\u201d stocks like Danish drugmaker
\n Novo Nordisk
\n (NVO), which has an inside track on treatments for diabetes and obesity, and United Kingdom-based
\n AstraZeneca
\n (AZN), a leader in anticancer drugs. <\/p>\n

Columbia\u2019s Copper is keen on Dutch grocery store chain
\n Koninklijke Ahold Delhaize
\n (AD.Netherlands).<\/p>\n

Germany\u2019s downturn marks an end to the dartboard phase of profit in European stocks. You can still make money with some homework, and luck.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Europe\u2019s stock market rally had to end sooner or later. Germany slipping into recession makes that seem like sooner. But there are still great companies to buy on the Continent. European equities went on a tear last fall when fears for the region started to look overblown. A warm winter, plus deft policy responses, avoided […]<\/p>\n","protected":false},"author":1,"featured_media":17075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-17074","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nGermany Is Cooling. 3 Stocks to Play. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Europe\u2019s stock market rally had to end sooner or later. Germany slipping into recession makes that seem like sooner. 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