Panic-selling creates opportunities in Europe

Toilet rolls

The coronavirus situation is developing rapidly. Italy is in lockdown, confirmed cases are rising across the rest of Europe and the US, and there is a huge global effort to contain the virus. On Thursday last week, European shares suffered their biggest one-day plunge since 1987. Panic appears to have gripped markets.

However, as with any market scenario, we are focused on the drivers of long-term growth and we block out short-term ‘noise’. When we do, we are starting to see opportunities to judiciously put our money to work in several high-quality European businesses.

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