European equities haven’t been so cheap since June 2016 and the euro is to blame, according to Commerzbank AG’s Max Kettner. Gains in the Stoxx Europe 600 Index reversed on Monday after the region’s currency climbed on comments from the European Central Bank’s Daniele Nouy that more banks are planning to relocate to the euro area because of Brexit and as the dollar fell. The decision by several European nations to expel Russian diplomats also added to negative sentiment on stocks.
Source: Bloomberg Pro Terminal
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