BAML predicts rally for European stocks over the coming months [CNBC]
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Source: CNBC
BAML predicts rally for European stocks over the coming months An employee talks on the phone as he views trading screens at the offices of Panmure Gordon and Co. Getty Images European equities could jump 6% over the coming months, according to Bank of America Merrill Lynch's (BAML) latest report. The bank forecasts the pan-European stoxx 600 "Euro area and U.S. September PMIs (Purchasing Managers' Index) were weak last week, consistent with negative GDP (gross domestic product) growth in both regions. However, we expect growth momentum to improve over the coming months," the report said Tuesday. In analyzing the upside for European equities, the report highlights that the U.S. has been the main external drag on the euro area, due to the sharp decline in PMIs, as opposed to China where the data has risen to highest level since early 2018. "U.S. growth momentum has suffered from USD headwinds, but the USD is now set to become a tailwind," the note said, adding that the risk of a recess
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