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Bargains lure US funds to Europe

Investors attracted to companies with low valuations and high dividends, betting that the region's rally is just starting

Among the attractions: Shell pays out 5.5% dividend yield as does Total. Exxon Mobil's was only 2.5% with Chevron at 3.1%. - PHOTO: BLOOMBERG

[NEW YORK] AMERICAN mutual funds are scouring Europe for bargains, snapping up Dutch oil drillers, French drugmakers and Swiss food producers on speculation that the region's rally is just beginning as the US bull market ages.

Oliver Pursche, a Suffern, New York-based manager beating 97...