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By Michael Msika, Bloomberg Markets Live reporter and strategist
In the new world of European stock market dominance against the US, cheaper value stocks are looking like the go-to for investors angling for more gains.
After Europe’s 10% rally year-to-date and historic outperformance versus the US, funds are weighing whether the stellar run has further to go. A rotation into value has paid off with banks on a roll, and now the move is reaching sectors such as autos and miners. The value factor has been one of the best this year, up 8.6% on a long-only basis, and strongly outperforming growth’s mere 2.9% rise. In the past year, value is the number one strategy.