UK stocks : Euro zone shares at 2-mth lows on political tensions
However, in the longer term, he still sees strong prospects for stocks, staying "modestly overweight" on both UK and Europe.
"This correction which is now starting, hasn't really taken anyone by surprise. European equities are up 25-30 percent since last summer so it's not bad thing that they are pausing for breath," Misra said. "We see this as a reasonably shallow 5-7 percent, definitely single, digit correction."
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