5 European Stocks Rising Despite Debt Mess

BOSTON ( TheStreet) -- Just because Greece can't get its financial house in order to help get the sovereign debt crisis resolved doesn't mean European companies are dead in the water.

Many companies based there that are international in scope are prospering despite the challenges, as are their stocks.

And this at a time when most of those companies' shares, beaten down in 2011 because of concerns over the debt crisis precipitating a prolonged European recession, can be had on the cheap.

Supporting the view that European stocks are worthwhile, S&P Capital IQ says that "Europe is a region (that) is critical to global portfolio diversification for its significant contribution to international market cap.

"After all, developed Europe represents 42% of the total foreign (non-U.S.) market cap," it said.

Indeed, Europe has been showing signs of renewed investor activity this year after more than a year of sovereign debt blues. The MSCI Europe Index is up 8.5% this year, versus the S&P 500's 7% gain.

Here are five top-rated European-based companies' stocks that should be long-term, solid investments:

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