Jamie Chisholm is a markets reporter based in London.
European bourses rallied hard Tuesday, as Deutsche Bank recommended closing its hedge on equity exposure and going overweight stocks.
London-listed resources groups and China-sensitive German auto and engineering companies led the advance as sentiment was also lifted by reports Beijing was considering increasing its budget deficit to undertake a new stimulus for the world’s second biggest economy. For example, the economic environment is improving, with eurozone purchasing manager surveys, which had declined for five months in a row, recently taking a turn for the better. Also, softer China growth is already factored in, notes Uleer, and even a mild U.S. recession “is widely anticipated by markets and would most likely have a limited impact on markets.”
In addition, expectations of earnings are “sufficiently negative”. After heavy downward revisions, forecasts now seem more realistic for this year and, with consensus growth of just 3%, potentially too negative for 2024. Uleer sees earnings growth next year of 5%.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Deutsche Bank warns of fresh inflationary spike that may unanchor expectationsVivien Lou Chen is a Markets Reporter for MarketWatch. You can follow her on Twitter vivienlouchen.
Weiterlesen »
European Central Bank member says more rate hikes still possible if new shocks emerge“If additional shocks come, and if the information we have proves to be incorrect, we may have to hike another time or perhaps two times,” Robert…
Weiterlesen »
Bank of England approached UK lenders to gauge interest in troubled Metro Bank- FTBank of England approached UK lenders to gauge interest in troubled Metro Bank- FT
Weiterlesen »
Shawbrook makes offer for Co-op Bank, eyes fresh Metro Bank bid –sourcesShawbrook makes offer for Co-op Bank, eyes fresh Metro Bank bid –sources
Weiterlesen »
Shawbrook makes offer for Co-op Bank, eyes fresh Metro Bank bidBritish specialist lender Shawbrook made an offer for rival Co-op Bank and is weighing a fresh bid for embattled Metro Bank (MTRO.L), people familiar with the matter told Reuters on Sunday.
Weiterlesen »
US Fed's top bank cop defends effort to hike bank capitalUS Fed's top bank cop defends effort to hike bank capital
Weiterlesen »