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European equities will face key bank test after firm 2017
European equities are braced for concluding 2017 with close to double-digit revenues, underpinned by a recovery in economic surge as well as corporate earnings, although the overall tempo is likely to slow as the ECB moves to reduce its massive stimulus.
A Reuters survey of fund managers, brokers and financial experts taken over the previous week predicts that top euro zone blue chips will soar almost 11% in 2017, with revenues halving to approximately 5.5% next year.
Spanish stocks IBEX, affected for the last few weeks by concerns over a tough constitutional meltdown, are supposed to conclude 2017 up 14% - a steep dip versus the 20% soar expected in the previous Reuters survey.
The broader pan-European STOXX 600 index has gained 9.3% this year, and it’s expected to earn 7% in 2018, thus leaving behind British stocks supposed to be affected by worries related to Britain’s exit from the European Union.
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