European stocks fell on Tuesday as concerns over energy stocks and economic growth persisted. German industrial output fell for a fourth consecutive month, highlighting the challenges faced by Europe's largest economy. Despite this, UBS Group AG shares rose due to strong client inflows, and Associated British Foods Plc predicted a rise in profit. The recent rally in European equities has been driven by a rebound from their lowest level in nearly 10 months, but concerns over rising bond yields, disappointing earnings, and the Israel-Hamas conflict remain. The lack of clarity over the macroeconomic environment is a problem for investors, but once clarity arrives, there could be support for stocks due to their historically low valuations. The moderation of job growth in the US has led to speculation that the Federal Reserve may be done with its tightening campaign. Real estate and technology sectors have been among the biggest gainers this month. Canadian meat producers are facing criticism for rising greenhouse gas emissions. A portfolio manager predicts consolidation in the Canadian energy space following Crescent Point Energy Corp.'s acquisition of Hammerhead Energy Inc. Some Canadian brands that grew online are now focusing on in-person sales as the e-commerce boom subsides. UBS Asset Management is increasing its focus on big infrastructure investments as deal activity slows down. The company is looking to take advantage of the growing demand for infrastructure assets, particularly in renewable energy and digital infrastructure. UBS Asset Management plans to invest in projects such as wind farms, solar parks, and data centers. The move comes as traditional deal-making activity has slowed due to the COVID-19 pandemic and economic uncertainty. UBS Asset Management believes that infrastructure investments offer stable and long-term returns, making them an attractive option for investors. The company is also considering partnerships and joint ventures to expand its infrastructure investment capabilities.
In other news, StockNews.com has initiated coverage on Euro Tech (NASDAQ:CLWT) with a 'sell' rating. Euro Tech opened at $1.43 on Friday, with a fifty-day simple moving average of $1.46 and a two-hundred-day simple moving average of $1.50. Euro Tech has a 12-month low of $1.01 and a 12-month high of $1.89. An institutional investor, Citadel Advisors LLC, recently acquired a new position in Euro Tech stock, owning approximately 0.28% of the company. Euro Tech Holdings Company Limited primarily distributes water treatment equipment, laboratory instruments, analyzers, test kits, and related supplies, and power generation equipment to commercial customers and governmental agencies in Hong Kong and China. The company operates in two segments, Trading and Manufacturing, and Engineering. [8bdf9eda]