Good point Jimi, Lloyds Bank has moved very strongly and the UK government has been reducing its stake. There is clearly strong demand. A niec way to play a more broad based European recovery is through MQA which operates over 20% of France's toll rd network.
If you strip out the fiscal tightening in the US the underlying private investment trend in the economy is tracking quite well. The Fed will only taper for the right reason and the market has had time to absorb the noise. I think the Australian market can continue to outperform the SP500 as it did in September Quarter.
James, the upscaled raising is quite a bullish signal for equity markets. The Virtus float has also been a success trading at $6.80 vs float price of $5.68. The IPO/placement market is showing signs of strength for the first time since 2009.
PTM is my prefered exposure with significant leverage to a falling AUD but you do pay a premium for it. PPT is also looking interesting at these levels given their cost out story will enhance bottom line growth and you are only paying a market multiple on FY14 earnings.