Despite the euro zone debt crisis, European markets might be a bright spot in the coming year, according to Richard Bernstein, chief investment strategist at Richard Bernstein Advisors.
“Corporate Europe is reasonably healthy,” said Bernstein during an interview on CNBC.
“In fact, if you look at the percent of positive revenue surprises and positive earnings surprises, you’re getting more of them in Europe than any other region around the world.”
“There is something positive happing on the corporate front in Europe, even though perhaps the sovereign side is still kind of a mess,” he said.
“If you’re looking for where there could be a surprise next year, the European markets are probably a place you may want to look.”
As for the US, Bernstein said that the economy is moving out of a recession, adding that things have been getting better slowly and the market has been responding “accordingly.”
“This has been more normal of a recovery than most people think,” Bernstein said.
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