US investors looking to Europe as economy recovers - Davy
Thirty three Irish and European corporates showcased their wares to 90 US and Canadian investment firms with a combined $13 trillion under management at Davy's Annual Equity Conference in New York this week.
American equity investors are a cornerstone of the Irish Stock Exchange, which dramatically outperformed many of its peers by closing up 30pc at the end of last year.
"US investors are increasingly looking to Europe for investment opportunities as the prospects for economic recovery improve. There is significant interest in the Irish equity market where earnings growth is likely to surpass that of the broader European market while continuing to trade at lower valuations," said Barry Dixon, head of Davy Research.
Corporate attendees at the Davy Equity Conference included executives from leading Irish aviation, transport, food and beverage, financials and industrials, as well as real estate, gaming and leisure, healthcare and media businesses.
Stock picks recommended by Davy to perform well in 2016 reflected a range of sectors and both domestic and international focused firms.
Picks for the year included CRH, Ryanair, Paddy Power, Betfair, and hotel group Dalata as well as Kerry Group, Independent News & Media, Total Produce, Cairn Homes and Premier Foods.