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QE dispenses unwanted results to Europe stock buyers

After the Euro Stoxx 50 reached an almost seven-year high in April, crises from Greece to China pushed bulls back and took the index down 17 per cent from its peak.


MARIO Draghi's stimulus programme hasn't quite succeeded at unleashing the desired animal spirits across Europe. Here's the evidence: six months in, and 96 per cent of companies in the Euro Stoxx 50 Index have actually become cheaper relative to earnings.

The European...

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