What Rout? European Stocks Will Rebound 20%, Strategists Say
- ECB stimulus, recovering domestic economy to fuel the rally
- Four of 11 forecasters expect the Stoxx 600 to hit new record
Nouriel Roubini: Global Economy Not Back to 2008
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The worst start in years for European stocks is doing little to dim the view of the region’s strategists, who are mostly holding on to calls for gains of almost 20 percent through December.
The Stoxx Europe 600 Index will rise to 402, according to the average strategist estimate compiled by Bloomberg. While that’s lower than the 415 level forecasters targeted last month, they’re still counting on European Central Bank action and an improving domestic economy to help recover from the plunge that sent shares to a one-year low. Equities jumped the most in a month on Thursday after President Mario Draghi signaled another boost in stimulus. They climbed even more on Friday.