European stocks rally to record high as investors move away from US

European stocks have outperformed the US since the start of the year

The Stoxx Europe 600 Index has surged nearly 9% this year, breaking new ground this week above 550 points.

The European stock market’s rally to record highs has caught many strategists by surprise, leaving them racing to catch up and cautious on further gains.

The Stoxx Europe 600 Index has surged nearly 9% this year, breaking new ground this week above 550 points. Investors have been moving faster, as they diversify out of US assets and bet on a ceasefire in Ukraine.