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.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
