BlackRock Shifts Cautious on Europe 50 as Energy Shock Erodes Appeal

BlackRock has adopted a more cautious outlook on European equities, with international CIO Helen Jewell citing higher energy costs and richer valuations that dull the region's investment allure compared to months ago. This builds on an earlier warning of material downside risks to Europe 50 from the energy crisis, which threatens earnings for energy-intensive sectors and could spur volatility and fund outflows. Financial Times reports, though paywalled, highlight implications for investor positioning and benchmark pressure amid persistent cost challenges.