Looking at EU Growth Through Banking Sector: Lilley

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April 10 (Bloomberg) -- Kevin Lilley, Head of European Equities at Old Mutual Global Investors, discusses the economic outlook for various sectors and his subsequent investing strategy. He speaks on Bloomberg Television’s “On The Move.” (Source: Bloomberg)

The likely-- do you like uk retailers?

Retail is a very stock specific industry.

It is difficult to generalize.

My portfolio -- i have all along -- a strong portfolio in next.

It is a great internet offering within continental europe.

The only retailer i own is the spanish discounting store, to play on the recovery in the domestic economy.

Because you have to pick the right stock with the right offering.

And he can change six months down the line.

Talk about the industry groups you like, and we will hone down on the civic stocks.

You like hiking stocks.

Is that you take advantage of growth?

-- you like vbanking stocks.

It is.

What is the best way of playing that?

Bank stocks.

Loan growth wil; expand as economies expanl.

This is before the asset quality review.

The banks have cleaned up their act already.

The national governments do not want to see the ecb when it takes over as the regulator and overseeing having to do a lot of activity in their own nation.

At the moment, italians are undergoing a big cleanup operation because the bank of italy does not want to be embarrassed when the ecb takes over.

Talk to me about your three top picks.

In terms of the banking sector, you are playing banco popular.

It is a purely domestic bank in spain.

It will benefit from the recovery that is happening at the moment, which is going through a big inflection.

The other good thing about the spanish market is that the inking -- the banking industry is consolidating.

So i think the spanish banks are in a stronger position because of all of the unprofitable banks have all gone.

So business is done in a profitable basis.

Banco puopular should be able to gain that kind of return on these it was making pre-crisis.

Interesting.

We have seen a lot of investors saying there is a lot of opportunity is banished banks.

We will keep it through some of the other stocks we are watching.

I want to bring in david tweed, because european companies are cold and your record levels of - european companies are holding

This text has been automatically generated. It may not be 100% accurate.

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