Tuesday, 16 February 2016

Stocks soar as strategists stay optimistic

Global markets soared on Monday.

The Stoxx Europe 600 jumped 3.0 percent while Japan’s Nikkei Stock Average surged 7.2 percent. The US market was closed for the President's Day.

The surge on Monday perhaps vindicates the bullish forecasts of analysts. From Daily News:

Investors may be yanking out money from European stocks at the fastest pace in months, but strategists are standing by their optimistic calls.

After a rout spanning all assets that last week dragged global equities into a bear market, the average forecast now sees the European benchmark closing the year with a 23 percent rally from Friday’s close. Take one of the biggest bulls on the region, UBS Group AG — which even after cutting its year-end target projects a 28 percent rally.

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