Fastest Gain Since 2011 Takes Europe Stocks to Strategist Limit
While European stocks almost entered a correction earlier this month amid anxiety over Greece, they rebounded as those worries faded and investors bullish on the region’s economic and earnings outlook piled back in.
Photographer: Martin Leissl/BloombergThis article is for subscribers only.
The ceiling for European stocks is fast approaching after the steepest rally in 3 1/2 years, if strategists are to be believed.
Equities in the region rose more than 8 percent since a July low through Tuesday, including the longest streak of gains in 15 months. The increase left the Stoxx Europe 600 Index 4.8 percent away from the average year-end forecast of 10 banks tracked by Bloomberg. The benchmark gauge dropped 0.6 percent at the close of trading.