Forget about the Magnificent Seven. The septet of large US technology groups has developed a reputation for being the only game in town for investors. But some much less fashionable stocks have been doing even better. It is time to take a closer look at the Magnificent 47.
The Stoxx 600 banks index, which tracks 47 of Europe’s largest listed banks, has returned just over 200 per cent since the start of 2022 factoring in share price rises and dividends, according to Bloomberg data. The so-called Magnificent Seven managed about 190 per cent over the same period.
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