A record-breaking run in European shares has made them more vulnerable to possible pull-backs in the latter part of 2024, although the region s recovering economy and the start of a rate-cut.
The region-wide index, home to popular large-cap stocks such as drugmaker Novo Nordisk and tech group ASML is set to rise again in 2025, reaching 537 by end-June and a lifetime high of 556 by year-end. "European equities have had a strong first half of the year and it is possible they hit pause over the summer months," said Moz Afzal, Global CIO of EFG Asset Management in London. In the upbeat camp is Barclays strategist Emmanuel Cau who remains "tactically" overweight on Europe.
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