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European stocks edging higher in early trading-DAX eyeing another record perhaps?

The European stock markets have been open for around 30 minutes now and it has been a slightly more positive start to the session than was indicated earlier on. The FTSE 100 is attempting to regain levels above 7,700 once more and the DAX is lifting above 17,450. The price action is more of a grind than a dynamic push higher right now, but there is no doubt that the major European stock components remain cheap compared to the likes of the Magnificent Seven in the US. Also to note in that regard; is the outlook for the largest 11 European stock components to buyback their own shares in the absence of any wider demand. That is a major driver right now, with PE ratios near to 13 here in Europe, as opposed to something well above 21 in the S+P 500. So, that makes European stocks not expensive, even at current levels. The DAX is just now trading at 17,455 as it eyes another potential record 
 

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