Europe’s Wealth Managers Are Turning Their Backs on Stock Rally

More European wealth managers have turned pessimistic on the region’s stocks, taking the view that this year’s rally is likely to falter while markets in the US and developing countries power ahead.

The significance of this report depends on the decisions, official reactions or confirmation that follow. The current assessment is initially based on reporting by Bloomberg.

Readers should distinguish established facts from initial claims. Practical consequences will become clearer through responses from authorities, markets or independent sources.

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