Nearly Half of European Energy Stocks Are In A Bear Market

Last Friday we noted that 20% of European stocks are in a bear market.  Some sectors have been hit harder than others, however.













While Financials stocks have been relatively resilient--especially in light of recent news headlines, ~40% of European Energy sector stocks are officially in bear market territory.  While overall performance of the group has struggled over the last year, momentum has become increasingly skewed to the downside over the last couple of months: