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Fasdal: Time to take the Spanish bull by the horns

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Spain was badly hit by a double-dip recession between 2008 and 2013. Over the last two years, positive growth has returned. Saxo's Simon Fasdal says the government's structural reforms combined with a better economic environment in the Eurozone and lower commodity prices have also helped. He notes that equity prices have almost doubled since 2012 and bond yields are at a multi-year low.

At 22%, unemployment, however, is still extremely high. Housing prices are also low compared to 2007 levels.

But overall, Simon thinks Spain has investment opportunities, including equities and corporate bonds. He looks at Santander, Inditex, Campofrio and Telefonica.