The European stock market got off to a good start in the new year. However, it could still be too early for a broad start.
(Photo: dpa)
Dusseldorf The start of the year on the European stock market was successful. The Euro Stoxx 50, which is made up of the largest listed companies in the euro zone, rose by 1.7 percent on Monday and by around another percent on Tuesday.
However, Jan Viebig, Chief Investment Strategist Oddo BHF, does not believe that the right moment to start has come: “You typically increase your share weighting in the last third of a recession, although we are currently only at the beginning of a recession.”
He expects the market to initially move sideways in large movements. This puts Viebig in the consensus of most investment strategists and analysts. Read below about the opportunities and risks you see and when you expect a recovery.
There is also a consensus that Europe is heading for a recession. “The probability that we will have a recession is 80 percent in Europe,” says Viebig. So far, however, most experts are assuming that the recession will be weak.
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