Draghi Melt-Up Makes Europe Emerge From Germany to Greece

The biggest European rally in 19 months is leaving virtually no stock behind, pushing up equity prices from Frankfurt to Athens as investors plow money into the region at the fastest rate since 2002.

The Euro Stoxx 50 Index has climbed 21 percent since reaching its 2013 low on June 24, with every constituent but three advancing, according to data compiled by Bloomberg. Banks, automakers and phone firms are leading gains on prospects earnings will expand as the region’s financial system heals and its longest recession ever ends.