Wounds Seen Slow to Heal for Europe Stocks as Italy Leads Swings
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While relief over Greece prompted the biggest European stock rally since 2011, the legacy for investors is volatility.
After slumping to a five-month low, the Euro Stoxx 50 Index rebounded 9.5 percent in five days, falling as much as 0.5 percent on Tuesday before ending up. Its average daily move now stands at 1.7 percent in July, the most in almost four years. Portuguese and Italian shares led the swings, with average gains or drops of about 2 percent each day.