Is there a war discount in Europe?

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Financial Times 1w ago

Is there a war discount in Europe? - Financial Times

Quick Summary:

Cau notes that EU manufacturing surveys have never recovered to their pre-invasion levels, and the gap between European and US energy prices, while it has narrowed in the past year and a half, is still 20 per cent wider than it was before the war.

Brent crude prices dropped, and European natural gas prices dropped a lot.Russian assets popped.

All of this is true, but anyone expecting a wholesale revaluation of European equities, should a lasting peace be achieved, is likely to be disappointed.