ANNOUNCEMENT: Expert Investor is now PA Europe. Read more.


It’s a southern European showdown as Spain and Italy go head-to-head in the first semi final.




Score prediction: ITALY 1 – SPAIN 0


Why can this time be different for the troubled path of Italian reforms?

We have one strong incentive that is the way the Recovery fund is connected to the start of several reforms, and one guarantee that is the presence of Mario Draghi as chief of the government.

This second one is crucial both for his well-established influence on the European tables, as recognised by the Spanish prime minister, and also because we are in a time where the leadership in Europe is weaker with Merkel at the final mile of her career and Macron near the electoral period in France.

In this lack of leadership, I think Draghi can play a major role to fight again against far right forces that lead some countries.

The macroeconomic impact of the recovery funds and the reforms will be meaningful.

Italian equity is also still one of the cheapest countries between European countries with a 13.2 forward 12M P/E compared with the 16.9 of the Eurozone.

In addition, Italy has a very interesting dividend yield, 4.2% compared to 2.8% of Eurozone. The dividend factor is making a comeback, globally +11% in contrast to last year -15% when dividends were one of the worst performing factors.

Many Italians companies pay rich dividends, even outside the banking sector, they should do well if the style rotation into value keeps on being in place throughout the second part of this year.

So, it’s really now the time to invest in Italy!




Score prediction: ITALY 1 – SPAIN 2


We are already in semifinals! And we face one of our greatest historical opponents in one of their best tournaments in the last years.

As we are both Mediterranean countries we have many things in common, but one in which Spain continues to lead Italy is the development of the 5G network.

As you may know, 5G is the name for a new mobile technology that improves the capabilities of the previous ones in terms of internet access. Particularly, 5G will favour the development of mobile broadbands connections, faster interaction between devices as well as massive communications between machines (internet of things).

Within this, I must say that Spain is the European Union member with the highest penetration rate of the FTTH network (fiber to home), also having 87% of the national territory cover with ultrafast broadband (while the European average is 60%).

Back in 2019, the DESI report (Digital Economy and Society Index), ranked Spain eighth among countries best prepared for 5G technology deployment, but two years later, this is already a fact and, for example, the first of September 2020, Telefonica, a Spanish company that is one of the largest telephone operators and mobile network providers in the world, turned on its 5G network, enabling almost 75% of Spain to have 5G coverage currently.


  • Can M&A and buybacks breathe life into UK market?

    Can M&A and buybacks breathe life into UK market?

    Both buybacks and M&A should help realise value in UK shares, boosting prices and giving investors another reason to consider the UK stockmarket Not only does M&A activity appear to be picking up, with a high-profile bid for UK electronics retailer Currys, but the scale of company buybacks continues to accelerate. If it goes well,…

  • Capital Group launches multi-thematic Article 8 funds

    Capital Group launches multi-thematic Article 8 funds

    Capital Group has launched a set of multi-thematic sustainable funds that are available for investors in Europe, writes Christian Mayes. The Capital Group Sustainable Global Opportunities fund (LUX) will invest in global equities, while the Capital Group Sustainable Global Corporate Bond fund (LUX) will target fixed income exposure. The launch also includes a multi-asset offering…

  • Bond funds pull in €29.7bn in January – LSEG

    Bond funds pull in €29.7bn in January – LSEG

    Bond products were the best-selling asset class in January, according to LSEG Lipper’s European Fund Flow report, writes Christian Mayes. The asset class pulled in a net €29.7bn in the month, while Money Market USD grouping was the best-selling Lipper Classification after receiving €11.2bn inflows. Providers of mutual funds pulled in €22.5bn, while passives saw net…

  • Quarter of Article 8 funds at risk of greenwashing – MainStreet Partners

    Quarter of Article 8 funds at risk of greenwashing – MainStreet Partners

    A quarter of all Article 8 funds could be accused of greenwashing based on their sustainability framework and practices, according to MainStreet Partners, writes Christian Mayes The 24% of funds classified as a greenwashing risk by the 2024 ESG Barometer report marks a four percentage point increase from the 20% flagged at the end of…

  • EU green rules could stymie decarbonisation projects – ExxonMobil

    EU green rules could stymie decarbonisation projects – ExxonMobil

    The European Union’s climate regulations may lead to it halting its investments in Europe, ExxonMobil has warned. Speaking to the Financial Times, Karen McKee, president of the product solutions division, said the oil and gas giant had struggled to begin decarbonisation projects in Europe due to the regulatory burden. The result, she added, was that…

  • ICE flags need for Europe to double green investment

    ICE flags need for Europe to double green investment

    Investments to modernise energy and transport must double by the end of the decade to reach 2030 climate targets, the EU has been warned. According to the Institute for Climate Economics (ICE), which has released the European Climate Investment Deficit report, the bloc lacks what it calls a “consistent tool” to ensure monitoring of the…