The breadth of the global economic growth pickup is lifting even longstanding laggards. European stocks are a case in point—but the potential for catch-up remains appealing.
Even as U.S. stock indexes have set record high after record high, Europe has missed out. A vast gap has opened up between the performance of the S&P 500 and the Euro Stoxx, both in price and valuation terms. Indeed, on a forward price/earnings basis, the gap between the two is at a level not seen for more than a decade.... Nguồn: www.wsj.com