Europe Is Still in the Throes of Covid-19, but Its Stocks Are Rallying
European stocks have been on the rise as international investors reposition their portfolios for the global economy to return to normal a trade that hinges on smooth reopenings in the region.
The pan-continental Stoxx Europe 600 index has gained 4.5% so far this month, pulling ahead of major U.S. gauges, and on Friday hovered close to its highest point in more than a year. The S&P 500 has added 3.5% in the same period and the Russell 2000, an index of small-cap U.S. companies, has increased 6.9%. The Nasdaq Composite has gained 1% so far this month.