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, +0.61% 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.