European stocks close quarter with stronger gain than U.S.

European stocks close quarter with stronger gain than U.S.

European stocks on Monday ended the quarter with a mild gain, capping three months of turmoil on the political and economic front.

Up 0.35% to 393.15 on the day, the Stoxx Europe 600 index SXXP, +0.35% has climbed 2.2% for the quarter. The U.S. S&P 500 SPX, +0.50% is up 1.2% over the same period.

European stocks are much cheaper than their U.S. counterparts, reflecting worries about the area’s low growth. According to J.P. Morgan data, the Euro Stoxx 50 has a price-to-earnings ratio of 14.6, compared to 18.1 times for S&P 500 components.

Top gainers in Europe for the July-to-September period include telecoms group Altice Europe ATC, -0.68% , French supermarket chain Casino Guichard CO, -1.97% and U.K. aerospace firm Cobham COB, -0.38%, each with gains of over 40%.

Losers included software firm Micro Focus International MCRO, +0.62% , down 47% over the last three months, U.K. bank CYBG CYBG, -0.09% , which has dropped 42%, and steel maker Evraz EVR, +0.06% , down 32%.

The German DAX DAX, +0.38% rose 0.38% to 12428.08, the French CAC 40 PX1, +0.66% gained 0.66% to 5677.79 while the U.K. FTSE 100 UKX, -0.24% declined 0.24% to 7408.21.

Attention is turning to U.S.-China trade talks scheduled for October. A Treasury Department spokeswoman over the weekend said there no current plans to block Chinese companies from listing in the U.S., after a published report unsettled markets on Friday.

Whitbread WTB, -3.87% shares fell 3.9% as Barclays downgraded the U.K. owner of Premier Inn low cost hotels to equal-weight, with the bank saying the firm’s investment case is “muddled.”

Swedish Orphan Biovitrum SOBI, -5.60% slumped nearly 6% after reaching a pact to buy Dova Pharmaceuticals DOVA, +38.43% .

Electricite de France EDF, +1.88% shares rose 1.9% after the power firm said it will receive about 400 million euros in compensation for closing a nuclear power plant early.

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