“Deal hunters” are back in charge. Europe starts green

Europe started the session on positive ground, with “bargain hunters” – investors looking for stocks with cheaper valuations – marking the session after a week and a half of losses at the level of the 2008 crisis.

The European Stoxx 600 Index rose 0.72% to 410.03 points. Among the 20 sectors that make up the benchmark, energy, travel and entertainment lead the gains.

Among the major European markets, Madrid registers 0.29%, Frankfurt 0.57%, while Paris (0.07%), Amsterdam (0.05%) and Milan (0.07%) are trading on the waterline. In contrast, London estimates 1.02%. Here, Lisbon follows the trend of the block and is up 0.12%.

This year, European stocks are under pressure due to the war in Ukraine, the emergence of monetary policy “hawk” and recent fears of a recession, which has led to the Stoxx 600 recording its worst half in 14 years.

Investors are now looking forward to the upcoming earnings season in Europe. According to Citigroup research cited by Bloomberg, the news may not be positive, as downward revisions to earnings for the year dominate the “expectations” of companies in the bloc.

“The stock market is going into a slowdown [económico] Serious, but not a full-blown recession,” said Estee Dweck, chief investment officer at Flowbank, in an interview with Bloomberg. He’s optimistic for the second half.