Rising profits will lift European stocks to new records by mid-2025, according to Citigroup strategists, who expect the STOXX 600 to rally 11% to 580 points after an already solid run this year.
The pan-European index is up 9% year-to-date after breaking into unchartered high levels in May, with the tech, banking and healthcare sectors leading the gains.
Strategists led by Beata Manthey say they remain encouraged by a positive earnings momentum and favorable macroeconomic conditions in the region with a first interest-rate cut from the European Central Bank last week.
Citi’s base case is for valuation multiples to remain steady at about 14 times forward profits but this might prove too conservative in a monetary easing cycle, they cautioned.
In terms of sectors, Citi continues to favor tech, industrials and health care and raises its recommendation for travel and leisure. Its analysts remain cautious cautious on autos, telecoms and utilities, while it cut its rating for construction materials.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.
The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.
Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.
"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
