Performance of Underlying Assets: The fund's price heavily relies on the performance of the assets it holds, primarily European equities. Positive performance boosts the fund's NAV.

Market Sentiment: Overall market sentiment towards European equities impacts demand for the fund, influencing its price. Optimism leads to increased investment.

Economic Conditions: Economic factors like GDP growth, inflation, and interest rates in Europe affect the profitability of companies within the fund, thereby impacting its value.

Currency Fluctuations: As the fund invests in European assets, currency fluctuations between GBP (if that's the trading currency) and EUR impact returns.

Fund Management Fees: The fund's expense ratio and other fees reduce the overall return, affecting its net asset value and consequently its price.

Supply and Demand: Basic economic principles of supply and demand also play a part. If demand for the fund increases more than supply, the price goes up.

Investor Confidence: Events that erode investor confidence in Europe can cause a sell-off, decreasing the fund's price.

Political Stability: Political stability and geopolitical events within Europe can create uncertainty and affect investor sentiment, influencing the fund's price.