BAM, which manages more than £2.4 billion-worth ($4.8 billion) of equities in emerging Europe, says that although there is more pain to come in the US, strong macroeconomic and microeconomic fundamentals in central and eastern Europe are supportive of stock valuations in the face of global market bearishness. Tim Scholefield, head of equities at BAM, says: "Investor confidence can be slow to develop and yet quick to evaporate. A rapid loss in market confidence, such as we have seen in recent weeks, can often result in share prices diverging sharply...
