European Equities Partially Recover
European equities are seeing some signs of life after strong downward pressure on the Euro related to the debt crisis in Greece caused stocks to slide.
The Vanguard European ETF (VGK) closed at $43.37 on February 8, declining nearly 15% from the mid-January high before recovering some ground in the past 10 days. US stocks have come through the crisis relatively unscathed, down only 4% from the mid-January high.
The $2.5 billion Vanguard fund tracks the MSCI Europe Index and invests in common stocks of companies located in 16 European countries. Top holdings include HSBC Holdings PLC, BP PLC, Nestle SA, Total SA, Roche Holding AG, and Banco Santander SA.
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