BlackRock warns that the energy crisis will hit European stock markets

Golden Ten Data reported on April 19 that BlackRock warned soaring energy costs and rising valuations mean European stocks are no longer as attractive as they were a few months ago. The company's international chief investment officer, Helen Jewell, said that the economic impact of high oil and gas prices, as well as the narrowing valuation gap between European and U.S. stocks after the relatively strong performance of European markets in recent months, means she has reduced her optimism toward European stocks in the near term. "It's hard for us to be as positive on Europe as we once were," Jewell said, noting that the continent is particularly vulnerable to the impact of global energy price shocks on consumer spending.