“European companies most dependent on revenue from Spain, Italy, Greece and Portugal are rising in the stock market at the fastest pace in five years, providing chances for short sellers after two earlier rallies fizzled.
Firms with sales from those countries surged 21 percent in the 15 weeks to Nov. 2 as European Central Bank President Mario Draghi pledged to preserve the euro, compared with an average 5.3 percent gain for exporters to the U.S., China and Europe’s strongest economies, Goldman Sachs Group Inc. indexes show. Similar rallies for companies serving so-called peripheral countries heralded losses of as much as 44 percent through November 2010 and July 2012, data compiled by Bloomberg show.”
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