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Investment Weekly

European exceptionalism
13 November 2026
    Articles

    Chart of the week – European exceptionalism

    Chart of the week – European exceptionalism

    Last week’s tech sell-off showed the value of spreading equity risk across borders. With less AI exposure, cheaper valuations, and heavier tilts toward banks, industrials, and healthcare, European shares held firm as US stocks stumbled. Helped by relief in energy prices, the region has almost matched US returns in dollar terms this year despite all the hype around America’s AI boom.

    Market Spotlight

    • Chips down, giants up

    Lens on…

    • Revenge of the mundane
    • Big tech’s IOUs
    • The hike before Christmas

    Read the full commentary PDF, 1.10MB

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