UK most favourable European stock market by far – BofA survey
Britain’s stock market has surged in popularity among European peers, as revealed by a recent regional survey by the Bank of America.
The share of investors indicating a preference for UK equities over the next 12 months jumped to over 30 per cent, up from less than 10 per cent in July, the poll showed.
The survey also showed participants favouring Swiss stocks over those in Italy, France, and Spain. Germany was notably the least favoured, with over net 30 per cent of respondents indicating they would underweight the country.
This shift underscores a significant turnaround from 18 months ago, when UK stocks were the least favoured globally.
Recent investor confidence in the UK has been bolstered by political stability following Keir Starmer’s Labour Party’s election victory and positive economic data, including a surprising drop in unemployment.
Conversely, investor sentiment in France remains strained amid ongoing political issues, while confidence in Germany’s economy has dropped to its lowest since January.
The survey, conducted between August 2 and August 8, included 122 participants managing $265 billion in assets.
Attribution: Bloomberg
Sub-Editing: Y.Yasser