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European Stock Winners and Losers Upended Amid China Effect

  • Italian shares among region's best in 2015, German stocks fall
  • `The specifics for every country now matter the most'
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Choosing which European stocks to invest in used to be straightforward: either stable markets unscathed by the continent’s debt crisis or riskier countries whose shares were cheaper.

That’s been upended this year. So-called peripheral nations such as Italy and Ireland are outperforming Germany and other "core" countries as local equity markets respond to their own imperatives, including a slowdown in China, elections and corporate scandals.