Morgan Stanley downgrades European energy stocks following the Strait of Hormuz agreement

robot
Abstract generation in progress
Mars Finance News: On June 19, as oil prices eased and shipping through the Strait of Hormuz gradually returned to normal, Morgan Stanley strategists downgraded ratings for Europe’s energy sector stocks. Led by Marina Zavolok, the research team cut the sector’s rating from overweight to neutral, citing that after geopolitical tensions reach their peak, the energy sector typically underperforms the broader market. The strategists removed six energy stocks from their European preferred stock pool and replaced them with three bank stocks, two utility stocks, and one copper company stock. Analysts said European stock markets have not yet fully priced in the positive impact of the Strait resuming navigability; investors may next turn their attention to a potential peace agreement in Ukraine.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned