In July, Belet received $4.4 billion in European stock products

On 9 August, the past week was marked by a sustained high level of innovation in Europe, including Stoxx Europe 600, Germany DAX, United Kingdom FTSE 100 and France CAC 40. FactSet data show that Stoxx Europe 600 is expected to increase profits in the second quarter by 22 per cent on a year-on-year basis, creating the best profit growth performance since 2022. According to Bloomberg, in July, ETF flows of European equities for the first time achieved a net inflow since the beginning of the US-Iraq conflict at the end of February. Belet, on the other hand, indicated that his European stock product received $4.4 billion in inflows in July. Marina Zavolock, a European stock strategist in Morgan Stanley, said that the recent strong profitability had increased investors' interest in “diversified allocation of European equities”. Earlier, in July, global semi-conductor stocks had been sold in large quantities, leading investors to refocus their attention on the European market, which was less dependent on technology and AI equities. (FT)