Europe Stocks Approach Cheapest Ever as Invesco Buys Repsol

Europe Stocks Approach Cheapest Ever as Invesco Buys Repsol

Angel Navarrete/Bloomberg

While the Euro Stoxx 50 Index has fallen to 0.9 times book value, cheaper than any time except the week markets bottomed in March 2009, Invesco is betting on Repsol SA, the Spanish oil producer.