European stocks win over US

Money managers around the world are picking continental European stocks over other markets and are least optimistic about the prospects for US stocks, according to a survey by Merrill Lynch & Co. The Dow Jones Euro Stoxx 50 index, which excludes British stocks, has gained 1.4% this year in US dollar terms while Britain's FTSE 100 Index has declined 14.2% and the US Standard & Poor's 500 Index has fallen 5.7%. "Fund managers are small sellers of US equities and continental Europe is the favorite market," said Trevor Greetham, an investment strategist at Merrill who compiled the monthly...