The Bargain Hunters are back in charge. Europe starts with greenery
Europe started the session on a positive note, while bargain hunters, investors looking for lower-valued stocks, ended the session after a week of losses and half a year at the level of the 2008 crisis.
The European benchmark Stoxx 600 rose 0.72% to 410.03 points. Among the 20 sectors that make up the benchmark, energy, travel and leisure take the lead.
Among major European markets, Madrid is up 0.29%, Frankfurt is up 0.57%, while Paris (0.07%), Amsterdam (0.05%) and Milan (0.07%) trade at the waterline. In turn, London rises in price by 1.02%. Here, Lisbon follows the trend of the block and is up 0.12%.
European equities are under pressure this year from the war in Ukraine, the emergence of a hawkish monetary policy and recent recession fears that have sent the Stoxx 600 into its worst half in 14 years.
Investors are now looking forward to the next reporting season in Europe. According to a Citigroup study cited by Bloomberg, the news may not be very positive, as the bloc’s “forecasts” are dominated by downward revisions to this year’s earnings.
“The stock market is going into a slowdown [económico] a severe but not full-blown recession,” defends Estee Dweck, chief investment officer of Flowbank, in an interview with Bloomberg.
