Performance of Underlying Assets: The fund's price is directly linked to the performance of the European companies it invests in. Positive performance drives up the fund price, while negative performance lowers it.

Market Sentiment: Overall investor sentiment towards European equities impacts demand for the fund. Positive sentiment can increase demand and price, while negative sentiment can decrease both.

Currency Fluctuations: Changes in the value of the Euro relative to other currencies (like GBP) will affect the fund's price for investors outside the Eurozone.

Interest Rates: Changes in interest rates, especially in Europe, can affect company valuations and therefore the fund's overall performance.

Fund Flows: Large inflows of money into the fund can temporarily increase its price, while large outflows can decrease it.

Economic Conditions: The overall health of the European economy, including factors like GDP growth, inflation, and unemployment, significantly influences company performance and thus the fund's price.

Political Events: Major political events, such as elections, policy changes, or geopolitical tensions in Europe, can create uncertainty and impact market sentiment, affecting the fund's value.