European Stocks Gain Support at U.S. Expense: Chart of the Day
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Global stock investors are increasingly turning to Europe over the U.S. as the region’s central bank plans to start buying bonds, according to a survey by Bank of America Corp.’s Merrill Lynch unit.
As the CHART OF THE DAY illustrates, the results of the monthly survey are in keeping with the relative performance of stock indexes this year. The Stoxx Europe 600 Index recorded a 10 percent gain through yesterday, while the Standard & Poor’s 500 Index only rose about 2 percent. The European indicator trailed the S&P 500 in four of the last five years.