LONDON - European shares are running out of steam and are expected to end 2019 roughly at their current level, a Reuters poll showed, as continuous political risks and slowing growth keep a tight lid on their upward potential.
According to the survey of over 30 brokers, fund managers and analysts taken Feb. 12-25, the pan-European STOXX 600 benchmark index is seen ending the year at 371 points, which was almost the level it closed at on Tuesday. Much of the rationale behind cautious expectations for European stocks is tepid growth after investment banks and international institutions cut their 2019 forecasts for the region.
At the moment, European companies listed on the STOXX 600 are expected to report 2.6 percent year-on-year earnings growth for the fourth quarter of 2018, according to I/B/E/S Refinitiv.
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