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Fundamental, Research

European Market Strategy: Cutting to Underweight

Ahmad Halim, CFA, Deputy Director, International Equity Research

24 July 2023

Summary

Since its downtrend bottomed at end of September 2022, the S&P Europe 350 has gained +20% as of close on July 14, 2023. We think further outperformance may be difficult to achieve. We cut our weight on the region to Underweight (from Marketweight) in our recent July 2023 EMEA Investment Policy Committee Note.

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