Beer, sports gear and great glasses: three reasons to back Europe

Political crises, including the collapse of governments in France and Germany, should not obscure investors’ view of economic opportunities; risks and rewards. It’s a good time to do so because the pound hit a post-Brexit high against the euro last week, trading above €1.20. Continental Europe remains home to several world-class companies that can diversify fund and share portfolios, which may have become excessively dependent on America after its extended bull run.

For example, the Franco-Italian giant EssilorLuxottica (stock market ticker: EL) is not a household name in Britain but it is the biggest eyewear business in the world and makes nearly a third of all optical lenses. As people live longer and spend more time looking at small screens, demand is rising and I