Where Are Europe's Most Expensive Stocks?

As we pointed out a short while ago (here), most stocks are valued at quite a premium today.  Taking a deeper look into the MSCI Europe constituents, we find that a significant number of stocks in nearly every sector are trading at or above 25x P/E:



For the Health Care sector, with 50% of its members trading at such a high valuation, we find that nearly all of the sub-industries are participating:




In addition, the vast majority of Information Technology stocks in the MSCI Europe index are now trading over 20x P/E:




And a few companies in the Consumer Staples sector are at much higher valuations than even the sector averages initially suggest: