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European stocks have surpassed the United States a month since President Donald Trump has been inaugurated, with the hope that the region will escape a trade war for the worst scenario.

The Stoxx EUROPE 600 normative index gained 5.6 per cent since January 17, the last trading day before Trump’s re -introduction of the White House, while S&P rose in Wall Street 2.5 percent, and has advanced the heavy NASDAQ in Wall 2.2 percent.

The strong performance was unexpected for European indicators driven TrumpAnalysts said that the decision not to impose an immediate tariff on the European Union, as well as the possibility of peace talks in Ukraine.

The European Union has been prepared to be a major goal for Trump’s first policies after the American president pledged to impose a comprehensive tariff on the bloc, but nothing has applied yet.

“For Europe, the bark of the trade war has so far worse than the sting,” said Andrew Biz, the chief investment strategy in Russell Investments. “But other stories are an ascending trend in bank lending during the past year” and reducing interest rates by the European Central Bank.

Analysts at Bank of America said in a memorandum on Wednesday that European stocks have enjoyed the best of the matter in the late 1980s and their strongest performance for the United States for nearly a decade.

Europe’s gains come despite the signs of stagnation in the main economies of the continent and the long -term security fears in the region as the United States threatens military support.

“We did not suffer from weight gain in Europe at the beginning of the year – [its strong performance] “Everyone surprised,” said Daniel Morris, the chief market strategy in BNP Paribas Asset Management.

European fund managers have helped this gathering Increase their allocations Since the beginning of the year, a survey this week showed that the percentage says that the shares of the region were less than six years.

The sectors, including financial and defense statements-which are enhanced by the possibility of increased spending by European governments-and luxury stocks due to the lack of a single day tariff.

Rheinmetall, the largest ammunition company in Europe, rose by 34 percent last month while the luxury Richemont maker rose by 11 percent.

UBS analysts last week upgraded their allocation to continental Europe to weight gain, citing the back winds of low energy prices in the event of the end of the Russian invasion of Ukraine, improvised financial policy and the profits of the strongest companies.

Hong Kong has been the best major performance index since Trump’s opening, as the Hang Singh index has risen by 15 percent since January 20, led by a gathering in the shares of Chinese technology listed in the region after the shock of Depsic.

China CSI 300, however, only 3 percent advanced. The rest of Asia was more famous, as the broad Topix in Japan increased by 2 percent and 50 percent in India by 1 percent.

However, some analysts have expressed doubts about whether Europe’s performance could continue throughout the year, especially if the American tariffs are simply late instead of mitigating them.

Trump has warned that imports from Europe may be in the queue after the United States has moved to impose a 25 percent tariff fees on Canadian, Mexican imports and an additional 1 percent against Chinese goods.

Stock markets in the region fell on Wednesday after the US president said he was considering imposing a 25 percent tariff on car imports, pharmaceutical preparations and chips. On Thursday, Stoxx 500 rose 0.3 percent.

“Muscle memory for most investors is that European performance can only be for very short periods with small amounts,” said analysts at UBS.