Columbia Threadneedle ups view on stocks to 'overweight'

Asset manager Columbia Threadneedle's multi-asset team upgraded equities to "overweight," citing clearing political clouds and a sharp improvement in corporate profits, particularly in Europe, for their optimism. Political risk in Europe has weighed heavily on the continent's equity markets over the past year, though the failure of populist parties to win elections in the Netherlands and France stalled months of outflows.
The case for Europe has also been strengthened by a supportive economic backdrop and a robust first-quarter earnings season which saw earnings growth of around 19 percent, according to Thomson Reuters I/B/E/S data, with strong beats on the topline.