European stock markets step on the accelerator in 2023
📍Even though a large part of investors doubted the performance of the old continent’s economy (due to the uncertainty surrounding them because of the war in Ukraine), several data confirm that the European economy remains resilient.
📍European stock markets have had the best start to the year since 2013, as the Eurostoxx has risen in the first 2 days by 2.34% and is rising today (10:39 am) by another 1.30%, which brings it close to 4000 points (levels it has not touched since February last year). The main winners in this bullish rally are automobile companies, real estate firms and financial institutions. On the other hand, the big losers are energy and oil companies (a barrel of oil collapsed at the beginning of the year).
📍This optimism on the part of investors towards European stock markets is due to the good inflation data published by the two European locomotives (Germany and France), accompanied by the remarkable PMI data from the main European countries. In addition, this has been coupled with the slight reduction of contagions that China is having in some regions, raising hopes that the reopening of the country is near.