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New Year Rally Spur European Shares to 9-Months High

European shares surged to a near nine-month high on Monday, with real estate and retail stocks helping offset losses in commodity-linked sectors.

There wasn't a pessimistic outlook for much of 2022 and while still acknowledging the risks to markets, The European stocks are somewhat more constructive on the outlook for 2023 and favor increasing weightings in certain cyclical sectors. The World Economic Forum's annual winter currently taking place in Davos started earlier in the day following a three-year hiatus, with investors directing their eyes on commentary from several central bank policymakers and industry leaders.

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