European stock investors may be optimistic today, but with plenty of uncertainty still hanging over the market, it's too early to expect indexes to clock up significant gains.
Equities may be rising due to waning concern about a potential trade war -- but that threat hasn't gone away yet. The EU could impose tariffs on up to EU2.8 billion of U.S. goods including jeans and bourbon if the U.S. slaps levies on foreign steel. While this may be symbolic, expect further rhetoric on tariffs.
The Stoxx 600 also has a lot of ground to make up -- it's trading at levels last seen in August and over 9% below its January high. While stocks could recoup some of these gains, they're unlikely to return to those peaks anytime soon.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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