Even Most Bearish Calls on European Stocks Are Still Bullish
- Strategists predict 23 percent rebound for Stoxx 600 this year
- Earnings, central banks, oil recovery seen boosting sentiment
A bear and a bull statue stand as pedestrians pass outside the Frankfurt Stock Exchange in Frankfurt.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Investors may be yanking out money from European stocks at the fastest pace in months, but strategists are standing by their optimistic calls.
After a rout spanning all assets that last week dragged global equities into a bear market, the average forecast now sees the European benchmark closing the year with a 23 percent rally from Friday’s close. Take one of the biggest bulls on the region, UBS Group AG -- which even after cutting its year-end target projects a 28 percent rally.