European stock markets can shrug-off a stronger Euro – Goldman Sachs

Goldman Sachs’ Christian Mueller-Glissmann, a London-based managing director of portfolio strategy and asset allocation, said in a Bloomberg interview on Tuesday, the Euro’s rise doesn’t have a negative impact for European equities, as many believe.

Key Quotes:

“It’s possible that the strong euro weighs on the export side, but as long as global growth is solid, that’s the more important factor.”

“And that’s why the market can shrug off the stronger euro. This whole idea about a higher euro being bad for exporters has quite a few things you can poke at.”

“The strong euro reflects this synchronized global recovery and the idea that the U.S. is not the only strong economy in town, which benefits Europe more than other places because it’s an export-oriented market.”

“If you are a long-run investor, you can still have a good case for Europe to continue to catch up with the U.S. a bit through the end of the year.”