Investors Are Pouring Money Into European Stocks Like It's 2015
UBS’s Smiles on Market Impact From Geopolitics, ECB
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The evaporation of political risk in Europe is seeing money managers rush into the region’s stocks at a clip not seen since the year the equities last surged to an all-time high.
Buoyed by relief over the outcome of the French first-round vote, investors poured $2.4 billion into European equity funds in the week through April 26, the most since December 2015, according to a Bank of America Merrill Lynch note citing EPFR Global data. The Stoxx Europe 600 Index has risen the most since December this week, and strategists at banks including Citigroup Inc. and Barclays Plc predict more stock gains driven by an acceleration in inflows.