Strategists Curb Their Enthusiasm Over Euro-Area Stock Rally
- Survey shows strategists expect fewer gains than last month
- JPMorgan Asset cuts stance to neutral from overweight
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European equity strategists are tempering their expectations for this year’s gains in euro-area shares.
While strategists still see the Euro Stoxx 50 Index exceeding its January peak before the end of 2018, they now see it climbing to 3,706, compared with a March estimate of 3,768, according to the average of 21 estimates in a Bloomberg survey. Societe Generale SA, HSBC Holdings Plc, Natixis SA and Commerzbank AG are among lenders that have slashed their forecasts since last month.