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JPMorgan analysts predict that European stock markets will come under enormous pressure next year due to a slowdown in economic growth. Hope is emerging in London.
The bank said the MSCI Eurozone index, which tracks the performance of European stocks, could see flat growth in 2024, with an unchanged target of 256 points by the end of December.
“We expect flat growth in European earnings per share in 2024, assuming there is no recession,” JPMorgan strategists said in a note to clients. “If the economy shrinks, profits will of course decline across the board.”
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