John Authers, Columnist

Contrarians Risk Meeting Their Waterloo in European Stocks

The idea that the continent will start to outperform the U.S. is a catchy refrain, but one that ultimately is off-key.

April 7, 2021 at 12:17 AM EDT

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

A siren song for Europe?
Photographer: Olle Lindeborg/AFP/Getty Images

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We have another landmark, this time in Europe. The Stoxx-600, the most widely quoted broad index of western European stocks, has made up all its losses from the pandemic. It has done so months after the S&P 500 (shown in the chart in euro terms for a direct comparison), but also far earlier than anyone would have thought likely this time last year:

Before it’s here, it’s on the Bloomberg Terminal

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