Usman Salis
⬤ European stocks are quietly pulling off something the market hasn't seen in over a decade. The Stoxx Europe 600 Index is on track to finish February in the green for an eighth straight month, which would mark the longest monthly winning streak since 2013, according to Bloomberg data cited by Evan. It's the kind of run that doesn't happen often - and when it does, people pay attention. For context on how European stocks and Russell 2000 futures have been trending higher, the current streak fits into a broader pattern of resilient equity momentum.
⬤ Look at the charts and the story becomes even clearer. After a choppy stretch in early 2024 that mixed gains and losses month to month, the Stoxx Europe 600 Index has since posted nothing but green candles. Eight months in a row is the kind of stat that shifts how fund managers talk about Europe in their quarterly calls - it's no longer a "wait and see" story.
A sustained run of monthly advances often becomes a headline signal for broader market tone - particularly when it reaches a length not seen in more than a decade.
⬤ The buyback picture adds another layer. Stoxx Europe 600 companies have collectively announced around $101 billion in share repurchases between January and February - the highest ever recorded for that two-month window. Buybacks at this pace signal that corporate Europe is confident enough to return capital rather than sit on cash. And while U.S. Treasury yields surge amid escalating trade war tensions, European equities appear to be holding their own.
⬤ The bigger question now is whether this streak has legs beyond February or fades into a more typical mixed monthly profile. With global uncertainty around trade still very much alive - including questions about who actually benefits from the U.S.-China trade war - the Stoxx Europe 600's ability to keep climbing will be one of the more closely watched storylines heading into spring.
Usman Salis
