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International Finance: Europe’s worst-hit stocks in 2022 start new year with a rally

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The most beaten-down European stocks of 2022 are leading gains into the new year in an early sign of a reversal of the risk-off sentiment that hit swathes of the market from property to retailers to growth stocks.

Stocks in food-delivery companies, battered last year by souring investor appetite for stocks seen as vulnerable to the cost-of-living crisis, were among the best performers, notching up gains in excess of 7% as UK and Swiss markets also opened after the holiday.

HelloFresh SE helped lead the advance for the Stoxx 600 benchmark as it jumped by as much as 9.5% to undo part of last year’s 70% decline. Just Eat Takeaway.com NV, which tumbled more than 50% in 2022, rose as much as 7.5%, while Delivery Hero SE gained by more than 7%.

 

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