US investors look to Europe for stock gains

NEW YORK: As United States stocks are hit with a bout of volatility, some investors are looking to European equities, attracted by lower valuations and the region’s nascent emergence from the Covid-19 pandemic.

European equity funds have notched their longest streak of net inflows in more than three years, according to data from EPFR, while fund managers globally surveyed by BofA Global Research said they were more overweight on European stocks than at any time since March 2018. Morgan Stanley’s strategists, meanwhile, have named holding European stocks as one of their top trades.