European Stocks Increasingly Seen as Safe Haven as Fed Decision Looms

European equities, shunned by foreign investors during most of the region's debt crisis, are now increasingly seen as a "safe haven" for investors seeking a shelter from the slowdown in emerging markets and ahead of Federal Reserve's interest rate decision.

Investors' appetite for European stocks is fueled by the region's slow but steady economic recovery, by better earnings growth as well as by the prospect of an expansion of the European Central Bank's quantitative easing program, market strategists say.