European equities: Recent selling 'overdone', buy the dip selectively says Barclays

European equities: Recent selling 'overdone', buy the dip selectively says Barclays

The recent narrative in the European equity market has shifted rapidly from a Goldilocks scenario to abrupt panic-selling, however, Barclays strategists believe the severe market reaction is “overdone.”

“Less froth is healthy, valuation has improved, and EPS momentum remains resilient,” they said in a note. Summer markets are notoriously tricky, and the recent volatility may continue to have effects for days or weeks, as the process of degrossing might not be over.

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