Europe Stocks 3rd Straight Year Gain Smallest Since 1992
This article is for subscribers only.
European stocks climbed for a third year, yet their advance was the smallest since 1992.
The Stoxx Europe 600 Index gained 4.4 percent in 2014 after rallying 14 percent in 2012 and 17 percent in 2013. The gauge lost 1.4 percent last month, its first December decline since 2008, amid a slump in oil prices and in Greek equities as Prime Minister Antonis Samaras failed to get enough backing for his presidential candidate, leading to early elections. Real estate companies, travel stocks and drugmakers increased the most in 2014, up more than 18 percent. Energy and commodity producers posted the biggest drops.