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31 Mar 2022

European Stocks Headed for First Quarterly Slide in Two Years

The Index Today

European stocks are set to take their first quarterly tumble in two years, spurred by the ongoing geopolitical crisis between Russia and Ukraine, soaring inflation, and falling risk asset appetite among investors.

According to Bloomberg News, although Stoxx Europe 600 Index rose 0.2% by 8:02am London time on Thursday, it is set to drop in the first quarter by more than 5%. Even though the automotive and construction industries informed profits, oil marked downs in the energy sector. Additionally, rising commodity costs spurred by the Ukraine-Russia tensions have caused investors to abandon equities during the first couple of months this year.

Brewin Dolphin’s Head of Market Analysis, Janet Mui told Bloomberg, “Companies have been enjoying a pretty good run in terms of corporate profits, I think 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.”

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