World Economy

Scouring Leftovers 

Scouring Leftovers Scouring Leftovers 

A 15% rally in European shares this year has driven valuations to seven-year highs, leading investors to seek whatever bargains are left in distressed sectors such as banks and mining, Reuters reported. The rally, fuelled by the European Central Bank’s asset-purchase progam, has pushed the average price-to-book multiple on the STOXX Europe 600 index to around two, its highest since 2008.