With sharp words, discourages the world’s largest asset Manager Blackrock for its customers to invest in the European stock markets. “We steer away from areas where we have limited chances of recovery and severe risks for a downturn, such as European equities,” writes the world’s largest asset Manager, in his capital market Outlook, he will be released this Tuesday. Even if the prospects for the year 2019 is likely to be of weaker growth rates, Blackrock favors but American stock, or those from emerging countries.

Tim Kanning

editor in the economy.

F. A. Z.

As Blackrock, the world has weight. More than six trillion dollars entrusted to them by investors from all over the world, the world’s largest asset managers. The New York-based financial company, gained through his Chairman of the Supervisory Board in Germany, Friedrich Merz, the last of which additional awareness, not only moved large sums of money, but it also influences the decisions of millions of investors.

The Brexit, the populist government in Italy and, now, the “yellow West” in France, ensure great uncertainties and Blackrock weighted on European markets, such as Martin Lück, head of the capital market strategy of Blackrock for the German-speaking region, explained in an interview with the F. A., for example. “Europe was lulled by the good economic development of recent years. The future for times of crisis but Europe is still a long way,“ says Lück. These failures took revenge, now, since the times of the stock exchanges would be rough.

confidence in Chinese growth

“The United States and China struggle for supremacy in the world. Europe stands on the edge of the field and busy with themselves,“ says Lück. He could hardly imagine a scenario in which European equities in the next year better you should run for the title, from China or the United States. Even if the trade conflict between these two powers is the current threat acting, Lück, that he might lead at the end of the duties in the two markets to be lower instead of higher. In this respect, investors should buy more shares from these two major markets.

Also there should bring investors, however, strong nerves. Although Lück is according to the many markets, painful the year 2018 for the year 2019, a little more confident. The rate fluctuations are likely to remain large. “In the years 2016 and 2017, the share markets were a shield from strong economic growth and low interest rates, the political uncertainties are protected. This shield of protection is now weakened,“ says Lück. “In 2018, there were already two action beats, as they would say in Boxing, as the markets in February and in October suffered severe setbacks.” However, the applicable continued: “We do not expect a recession for 2019, neither in Europe nor in the United States.”

In Germany needs to be created on high-risk

the growth in China Lück power, despite the recent crisis, characters have little to Worry about. If you estimate an economic downturn, Lück is convinced that the government in Beijing will provide as early as 2015, the growth will definitely will still remain about 6 percent. In the Asian emerging markets, Blackrock remains, therefore, until further notice overweight. For other emerging countries in Latin America, Lück, however, is still skeptical. What caused the new governments in Brazil and Mexico, is still difficult to evaluate. In Argentina in 2019 elections. The further development in Russia and South Africa is currently difficult to assess.