Rates and recession: European shares face rocky start to 2023

MILAN, Nov 29 (Reuters) – Tightening financial conditions and the prospect of an economic recession are going to be a toxic brew for European shares going into 2023 with a key regional benchmark seen sliding towards October lows, a Reuters poll has found.The poll of fund managers and strategists surveyed over the past two weeks forecasts the STOXX 600 (.STOXX) equity benchmark to reach 408 points by mid of next year, a near 8% drop from Friday’s close.Even as Europe has joined a recent global stock market recovery, fuelled by hopes of a pause in U.S. interest rate hikes, the STOXX 600 remains …
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