JPMorgan chief market strategist for Europe, the Middle East and Africa Karen Ward told Bloomberg in Zurich that investors should start buying European equities. She argues that lingering skepticism has pushed valuations down, creating a gap with US and Asian benchmarks. With oil prices slipping to early‑war lows and AI‑driven rallies confined to the US and Asia, Europe looks cheap enough for a fresh entry.

Ward notes the Stoxx 600 still lags its US and Asian peers year‑to‑date, but the discount has narrowed as diplomatic signs point to a possible resolution of the Iran‑linked oil shock. She expects oil to fall further once the interim Strait of Hormuz deal takes effect, which could lift European earnings multiples and revive capital flows.

Managing assets worth $4.3 trillion, Ward cautions against legacy auto and pharma giants but favors sectors tied to a “global industrial uplift,” such as financials, industrials and chemicals. She cites former ECB chief Mario Draghi’s blueprint calling for €1.2 trillion of annual investment in digital, green energy and defence to spark a broad benchmark re‑rating. For now, Europe offers the clearest upside amid the tech‑centric market rotation.