March 29, 2024

European stocks were poised for their first quarterly decline since the early pandemic days of 2020 as economic uncertainty around the war in Ukraine and red-hot inflation sours appetite for risk assets.
The Stoxx Europe 600 Index was down 0.3% at 12:16 p.m. in London on Thursday and was set to wrap up the first quarter with a retreat of more than 5%, snapping its longest quarterly winning streak since 1998. Retail stocks led declines, while energy shares tracked a drop in oil. Utilities and financial services stocks outperformed.
Investors fled equities in the first two months of the year as worries about slowing economic growth were compounded by soaring commodity prices following Russia’s invasion of Ukraine. Although the benchmark has since recovered losses sparked by the war and is set for its first monthly gain this year, concerns linger about higher costs crimping European earnings as a Treasury yield curve inversion spurs fears of a looming recession.
“It makes sense to be positioned more cautiously,” said Janet Mui, head of market analysis at Brewin Dolphin. “Companies have been enjoying a pretty good run in terms of corporate profits, that is definitely going to slow down this year. Equally, there is a time-line from the inversion of the yield curve to the eventual peak of the equity market, so we don’t want to get out of our equity position too prematurely,” she said on Bloomberg TV.
European stocks have also lagged behind a rebound in their U.S. peers. While the Stoxx 600 is up less than 2% since the beginning of the war, the S&P 500 has gained nearly 9% in what Citigroup Inc. strategists said reflects a “dislocation between stocks that were previously highly correlated. We suspect markets may now be applying too great a discount to European shares against their U.S. peers.”

184 thoughts on “European Stocks Are Set for First Quarterly Slump in Two Years 

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  65. This is the right website for anyone who would like to find out about this topic. You realize so much its almost hard to argue with you (not that I personally would want toHaHa). You definitely put a new spin on a topic that’s been written about for decades. Excellent stuff, just great!

  66. Hello there! Quick question that’s entirely off topic. Do you know how to make your site mobile friendly? My blog looks weird when viewing from my iphone. I’m trying to find a theme or plugin that might be able to fix this problem. If you have any suggestions, please share. Thanks!

  67. We are a group of volunteers and starting a new scheme in our community. Your site provided us with valuable information to work on. You have done an impressive job and our whole community will be grateful to you.

  68. This design is spectacular! You certainly know how to keep a reader entertained. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Fantastic job. I really enjoyed what you had to say, and more than that, how you presented it. Too cool!

  69. I am extremely impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you customize it yourself? Either way keep up the nice quality writing, it’s rare to see a nice blog like this one these days.

  70. Howdy! This is kind of off topic but I need some advice from an established blog. Is it very hard to set up your own blog? I’m not very techincal but I can figure things out pretty fast. I’m thinking about setting up my own but I’m not sure where to start. Do you have any points or suggestions? With thanks

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