Fund Managers Don’t Think This European Stock Rally Will Last

European stocks are climbing, but investors aren’t waiting for more gains.

While the Stoxx Europe 600 Index is poised to post its fifth consecutive weekly advance -- the longest streak since October -- investors have been yanking money out of funds that track the region’s equities. To some, this shows traders are eager to cash in on the rebound rather than bet stocks will continue to climb at a time the region is facing a slowdown in economic momentum.