Strategists Throw in the Towel on a Year-End Stocks Rally in Europe
- Stoxx 600 has little upside through year-end: monthly survey
- Nine of 16 strategists cut targets for gauge since August poll
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Strategists are giving up on a year-end rally for European stocks.
Forecasts for the Stoxx 600 Index have fallen by about 5% in the past month, according to the average of 16 estimates in a Bloomberg survey. Strategists now see the benchmark ending the year at 427 points, implying gains of less than 5% from Wednesday close. Using the median view of 418, the potential upside is even smaller.