According to Jinshi Data, analyst Michael Msika said that market strategists still have a consensus: European stocks are likely to hit new highs. The turmoil in the financial markets in August did not make strategists worry about the outlook for the European market.
According to a foreign media survey of 16 strategists, the European Stoxx 600 index is expected to reach 535 points by the end of the year, about 4.6% higher than last Friday's closing price, exceeding the historical high set in May.
European stocks quickly recovered lost ground as global markets rebounded after wild swings in early August. Mixed economic data and a sharp unwinding of crowded trades were not enough to make the rally last, with investors pinning hopes on rate cuts to support valuations.
Meanwhile, a reassuring earnings season has kept strategists relatively optimistic.
