Less Than 20 Stocks Pass Jefferies EU Graham & Dodd Screener

European stocks climbed to a new record at the beginning of last month, marking their latest advance in a QE fueled rally that’s been taking place since 2009.

The Stoxx Europe 600 index surpassed its previous peak of 405.50 reached at the height of the dot-com boom in March 2000. However, since the beginning of April, European stocks have come off the boil, but valuations remain inflated although they’re still below their 2008 and 2000 peaks.

With this being the case, analysts at Jefferies set out last month to gauge how cheap or expensive the European equity markets really are, by conducting a dispassionate search for value in...