JPMorgan says Europe’s cheap stock valuations could draw investors back as oil prices slide

JPMorgan’s EMEA chief market strategist Karen Ward said easing tensions around the Strait of Hormuz following a U.S.-Iran agreement could push oil prices lower. She argued Europe’s relatively low valuations, after years of being overlooked, may make the region’s stocks attractive again and prompt renewed inflows. European Central Bank officials warned the energy-price shock could persist for months and said they are not ruling out further rate increases later this year.