Institution: Market Strategists Undeterred by Middle East Conflict, Still Betting on European Stock Rally

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Mars Finance News, on March 23, an institutional survey showed that market strategists are optimistic about the rising inflation caused by the Iran conflict and expect European stock markets to return to historic highs. The median forecast of 16 analysts indicates that the European Stoxx 600 index will be about 11% higher than last Friday’s closing price by the end of this year, reaching 635 points. Currently, strategists believe that this conflict and the surge in oil prices are temporary factors and will not hinder the acceleration of European economic growth. The surveyed strategists did not lower their target expectations for the European benchmark index, and Uxin Bank and Deka Bank even slightly raised their forecasts. The latter, along with HSBC, are the most optimistic investors, with a target level of 670 points, implying a 17% increase in stock prices. The two most pessimistic strategists believe the index faces about a 2% downside risk; they are from TFS Derivatives and Bank of America. (Jin10)

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