Europe  

Steady as she goes for 2017

Edward Smith is an asset allocation strategist at Rathbone Brothers

Key points

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There is much to be uncertain about in 2017: Trump, Brexit, Italian banks and the price of commodities.

The Italian 'no' vote is another thorn in the side of eurozone progress, but an imminent general election is unlikely.

Equity valuations in the eurozone are not cheap compared with their long-term average.