It Looks Like The Year of the Eurobull

摘要

Money managers across Europe weren't sad to see 1995 end. It's not just that many of them become red-faced trying to explain how they missed the rally in U. S. stocks by betting on a correction some 1,200 points ago in the Dow Jones industrial average. They also bet heavily that the Continent would witness strong economic growth, rising earnings, and stronger bourses this year—only to see their hopes dashed. Although markets in the Netherlands and Switzerland chalked up solid gains amid a flight to quality, those in Italy and France declined, and Germany gained a mere 6%.