LONDON (Reuters) – European shares are running out of steam and are expected to end 2019 roughly at their current level, a Reuters poll showed, as continuous political risks and slowing growth keep a tight lid on their upward potential.
Europe’s main indexes are up about 10 percent so far this year, having kept pace with a rebound which has lifted global markets since the start of January.
Survey - Brokers - Fund - Managers - Analysts
According to the survey of over 30 brokers, fund managers and analysts taken Feb. 12-25, the pan-European STOXX 600 benchmark index is seen ending the year at 371 points, which was almost the level it closed at on Tuesday.
The latest forecasts are in line with a previous November poll, which forecast the STOXX 600 climbing to 373 points by end-2019.
Expectations - Zone - Blue-chip - Index - Points
Expectations were less optimistic for the euro zone blue-chip index which was seen losing about 40 points and closing 2019 at 3,250 points. Germany’s DAX was expected to retreat about 120 points to 11,420 points.
Much of the rationale behind cautious expectations for European stocks is tepid growth after investment banks and international institutions cut...
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