European stocks look appealing as Greece's deal with creditors won't reduce "fear moments" or opportunities to buy on weakness, a market strategist said Friday.
"On a multiple basis, European stocks have dramatically outperformed U.S. equities. So I think you buy European stocks on some fear, on weakness. You're going to get more fear moments," said Larry McDonald, head of U.S. macro strategy at Societe Generale.
Uncertainty hit markets in recent trading sessions as Athens and European officials attempted to reach a deal to keep Greece solvent. European finance ministers on Friday agreed to extend Greece's bailout program for four months, contingent on fiscal reforms.