European stocks underperform the S&P 500 by the largest margin in 29 years
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According to market analytics firm Barchart, European stocks are on the path to underperforming the S&P 500 on the hugest scale since 1995, marking the greatest margin between the two stock markets in 29 years. Bloomberg data confirmed this, indicating that the S&P 500 has skyrocketed by over 25% while the European Stoxx 600 has only managed 5%. Bloomberg’s analysis also highlighted that while European stocks have underperformed in the past, the range has never been to the current extent. The S&P 500 index has indicated the continued rally experienced by the U.S. stocks since Trump’s victory. The analysis highlighted that the victory boosted the appeal of U.S. stocks to the global financial community. Notably, LSEG data showed that Stoxx 600 closed at a 2% loss on November 12, marking the lowest the index dropped since August. Most European company stocks followed suit, with mining stocks suffering the most at a 4% daily loss. However, tech stocks inched slightly higher, attaining a 0.04% gain. Bourses across Europe also plunged on the same day, with France, UK, and Germany’s CAC 40, FTSE 100, and DAX losing 2.71%, 1.28%, and 2.06%, respectively. Aurubis, a German company, led the losses among European companies after losing 6%. Germany suffers the most in the slump ooofff 🇩🇪German industry sees worst slump in orders since 2009, institute says (DPA International) pic.twitter.com/mSgr9EvUkt — Tracy Shuchart (𝒞𝒽𝒾 ) (@chigrl) November 11, 2024 German stocks are suffering the biggest hit among European stocks, as confirmed by Tracy Shuchart, CEO of Hilltower Resource Advisors LLC. The German industry has overall seen the worst slump since the global economic crisis in 2009. Shuchart cited a report from the Munich-based institute DPA International, which mentioned that over 41% of German companies lacked orders in October. Companies manufacturing basic metal, automotive companies, and…
Filed under: News - @ November 14, 2024 8:20 pm