• Sat. May 25th, 2024

Surprise Economic Optimism in Europe: Bank of America’s Portfolio Managers Survey Shifts Tone from Pessimism

BySamantha Nguyen

Mar 25, 2024
Portfolio Managers Optimistic about Europe’s Economic Outlook on Stock Exchange

In Europe, the economic outlook was looking positive in the morning. A survey conducted by Bank of America’s portfolio managers revealed that Europe’s economic prospects were expected to improve within the next year, with a net 21 percent of respondents anticipating an improvement. This was the first positive indication in nearly two years and marked a shift from previous pessimism.

The survey also showed that cyclical stocks were expected to outperform defensive ones as lending became more accessible. This sentiment was reflected in the market, where the preference for cyclicals over defensives was at its highest since January 2022.

In other news, Swedish real estate company SBB announced the purchase of its bonds worth approximately 163 million euros to reduce its debt burden. This move caused SBB’s shares to rise by 11.8 percent on the Stockholm Stock Exchange. Meanwhile, Deutsche Telekom revealed plans to increase its share buyback program from 250 million euros to 800 million euros, though its stock price saw a slight decrease.

Looking ahead, futures suggested a bearish opening for Wall Street, with the S&P 500, Nasdaq, and Dow Jones futures all showing a decline. Despite this news, various listings related to electronic devices, firearms, and other products for sale were included in the content.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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