Europe Stock Investors Are Paying Up for Earnings Growth: Chart

Traders are opting for companies that have a track record of growing earnings. A Goldman Sachs Group Inc. index following them has hit record levels relative to the Stoxx Europe 600 Index. While the measure tends to outperform the regional benchmark -- it did in 12 of the past 14 years -- investor skepticism has been growing as analysts project earnings will fall this year.