“Global stock markets may be hitting record highs, but the reasons behind these gains differ sharply between the US and Europe. Mathieu Racheter, Head of Equity Strategy, explains the deeper differences in economic structure and policy between these two economies. He also takes a closer look at what is causing this divergence and outlines how investors can tailor their strategies as a result.The US market is being propelled by a small group of large technology companies, including those in the fields of AI, cloud computing, and digital platforms. The European market is being driven by value and domestic-oriented cyclical sectors, such as banks and industrials. The difference in market leadership between the US and Europe has significant implications for investors, who should consider tilting their portfolios towards growth companies in the US and value and domestic-oriented cyclicals in Europe.”
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Morten W. Langer
