Investors take profits as ‘hot money' fuels European equity rally

Investors are taking profits on European equities due to concerns about the impact of ‘hot money' flows, poor earnings growth, and the strength of the euro.

Europe has rallied over the past year, with a 23% gain from the MSCI Europe in the year to 9 July, compared with three-year growth of just 5%. The average fund in the IMA Europe ex-UK sector has returned...

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