Expecting a year-end European stock rally? Strategists say no
Soaring bond yields, a conflict in the Middle East and a tricky earnings season to navigate have cemented market strategists’ view that a year-end rally in European stocks isn’t on the cards.
By Michael Msika / Bloomberg
The Stoxx Europe 600 index is expected to end the year at 450 points, according to the average forecast of 16 strategists in a Bloomberg survey — just 1% above Wednesday’s close. Britain’s FTSE 100 is forecast to end 2023 pretty much where it is now, while the Euro Stoxx 50 and Germany’s DAX are seen rising by less than 3%.
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