European stocks are selling off and the Eurozone’s biggest banks are seeing some choppy trading, but economic fundamentals in the region are solid and European stocks will soon turn around, said Scott Colyer, CEO of Advisers Asset Management. “Energy and raw material prices are down and the Euro is still weaker against most foreign currencies,” said Colyer. “So I would suggest that what you are seeing is a slowing in Europe, not a recession.” Colyer is especially bullish on the markets of France, Spain and Italy with moderate outperformance of Germany. He said Italy appears to have the best metrics as consumer confidence and business expectations are relatively stronger. Back home in the U.S., Colyer believes that stocks will perform well after a grinding return in 2015. He said he expects growth to outperform and mid and small cap to outperform in the first-half with a catch up of large caps in the second-half of the year. Colyer said he favors financials, energy, materials, old technology and telecommunication.