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European stocks draw investors as earnings and growth strengthen
['Simon Mugo', 'Sun', 'August At Am Gmt', 'Min Read']
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Investing.com -- European equities are attracting increased interest from global investors as stronger earnings, improving economic data and broader market participation support expectations that the rally could continue, Bloomberg reported.
European corporate earnings increased 17%, the strongest growth in four years, while regional economic momentum reached its highest level since March 2023.
Around 75% of Stoxx 600 constituents trade above their 200-day moving averages, near the highest proportion recorded over the past decade outside major post-crisis recoveries.
The Stoxx 600 now trades at 15 times projected earnings, its smallest discount to the S&P 500 in four years.
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