LIVE MARKETS The bull market is not yet over

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  • European shares up 0.4%
  • Utilities, tech leads sectoral gainers
  • Wall Street shut for Thanksgiving

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THE BULL MARKET IS NOT YET OVER (0949 GMT)

Despite European stocks (.STOXX) are on track for their second-best annual returns since the 2008 financial crisis after year-to-date gains of more than 20%, analysts are not calling time out yet on the rally.

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Joining fellow European market bulls from Morgan Stanley and BNP Paribas, strategists from Societe Generale are also optimistic on the European markets outlook for next year.

They predict a 9% upside to European stocks from current levels by end-2022, mainly driven by solid earnings growth in the backdrop of a supportive macro environment with cost inflation likely to peak soon.

Their…

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