Strategists still bullish about European stocks despite recent rout

London

INVESTORS may be yanking out money from European stocks at the fastest pace in months, but strategists are standing by their optimistic calls.

After a rout spanning all assets that dragged global equities into a bear market last week, the average forecast now sees the European benchmark closing the year with a 23 per cent rally from Friday's close. Take one of the biggest bulls on the region, UBS Group AG - which even after cutting its year-end target projects a 28 per cent rally.