Investors have made a beeline into so-called 'value trades', adding cash into European stocks and financial and material shares during the past week, BofA's weekly statistics showed on Friday.
The bull, symbol for successful trading, is seen in front of the German stock exchange in Frankfurt, Germany, February 12, 2019. REUTERS/Kai Pfaffenbach/File Photo
LONDON, Aug 13 - Investors have made a beeline into so-called "value trades", adding cash into European stocks and financial and material shares during the past week, BofA's weekly statistics showed on Friday. At $1.5 billion, Europe saw the biggest inflow in eight weeks while financial stocks saw a chunky $2.6 billion of inflows -- the largest in ten weeks -- the U.S. investment bank said.
Global equity funds enjoyed inflows of $15.7 billion as private clients of the U.S. investment bank holding $3.2 trillion in assets increased their allocation to stocks to a record high of 65%.Sign up for our newsletter Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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