ECB stops interest rate hikes at 4%, Fidelity European Trust (LON:FEV)

Fidelity European Trust PLC (LON:FEV) monthly factsheet for the period ended August 2023.

Portfolio Manager Commentary

On a rolling 12-month basis, the Trust recorded NAV and share price returns of 12.3% and 12.7% respectively, compared to 12.0% for the index.

Continental European equities fell for the third consecutive month. Market sentiment remained fragile amid a disappointing earnings season, and elevated interest rates coupled with geopolitical tension weighed on sentiment. Eurozone GDP contracted by 0.1 percent in Q3, following a modest 0.2 percent increase in Q2. Central banks including the ECB stopped raising rates, and investors now believe the hiking cycle as over, with only a small probability of further action from the Fed.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Fidelity International

More articles like this

Fidelity European Trust

Eurozone retail sales show modest growth in August

Retail sales in the eurozone experienced a modest increase in August, showing a recovery after a stagnant performance in July. According to recent data from Eurostat, retail trade volumes in the euro area grew by 0.2%

Fidelity European Trust

European stocks climb amid global market struggles

European stocks saw an increase on Monday, defying the negative trends observed in both Wall Street and Asia-Pacific markets. By mid-morning in London, the pan-European Stoxx 600 index had risen by 0.57%, with most sectors and

Fidelity European Trust

A growing number of European businesses embrace AI

Over the past year, the adoption of AI by European businesses has grown by 32%, and this trend, if sustained, could add €600 billion in gross value added (GVA) to the European economy by 2030. This

Fidelity European Trust

European stocks show signs of recovery

European stocks experienced a modest increase by midday Tuesday in London, attempting to recover from Monday’s market downturn. At 11:54 a.m. London time, the pan-European Stoxx 600 was up 0.17%. It was a day of volatility,

Fidelity European Trust

European stocks offer stability and growth

European stocks have been a beacon of stability and growth in the global financial markets. The recent surge in European equities is a testament to the robust economic fundamentals and the innovative corporate strategies driving the