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European stocks need a miracle to maintain edge

FRANKFURT: Over the past few weeks, European stocks have staged an unusually strong comeback versus their US peers. If the “Miracle at Medinah, ” Europe’s victory against the US in the Ryder Cup, is considered one of the best comebacks in sports history, something akin to it may be required for the European equity market’s outperformance to hold.Bear in mind that the S&P 500 didn’t drop as much as the Stoxx 600 in early August, and has beaten the European benchmark every year since 2015.