Europe’s stock markets have seen respectable price gains in recent months – but many experts do not trust the upswing.
(Photo: Reuters)
Frankfurt Many stock exchanges are trading near their historic highs. The Dax only set a new record in mid-May. Compared to the low last autumn, the leading German index has gained a third in value. Some market strategists eyed the spectacular upswing on the stock markets with suspicion at the beginning of the year. They forecast a crash in the first half of the year.
But the correction did not take place – so far at least. The skeptics fear that the downturn has only been postponed. Her thesis: If there is a recession in Europe and the USA, there is a risk of a severe setback on the stock exchanges. The warners include strategists from Amundi, DJE Kapital, Allianz and Sentix.
The experts also give advice on how investors can get through the potential crisis well. The best choice is stocks from the defensive sectors of utilities, infrastructure, oil and gas, as well as banks, which have recently fallen sharply in price. Bonds are also on this list after the sharp rise in interest rates.
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