The European stock market in 2023: who are the big winners?

Despite early-year doubts, Europe’s stock market has defied expectations with a remarkable rebound in 2023. The Euro Stoxx 50, a key benchmark for European corporate giants, has surged by an impressive 19%, rebounding from a 12% drop in 2022.

This resurgence has been driven by a combination of factors, including easing economic concerns, improving corporate earnings, and a shift in investor sentiment.

And, against the background of the overall good performance, there are companies that stood out, posting impressive growth. 

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Alibaba: High Hopes and Regulatory Hurdles

The recent developments surrounding Alibaba Group Holding Ltd. have captured significant attention, following the company’s decision to abandon its plans for the spin-off and IPO of its cloud computing division. This announcement, which coincided with the release of its quarterly earnings last Thursday, prompted a 10% drop in Alibaba’s share price. The reaction from Wall Street analysts has been varied, with some expressing concern over the strategic direction of the company, while others maintain a positive outlook.

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