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5 Top European Stocks to Buy on ECB's Hints of More Stimulus

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The Euro zone indicated on Jun 18 that it could restart money printing to boost its ailing economy even though the ECB ended QE in 2018. The stimulus moves could be cutting rates even further and other expansionary measures. Draghi ruled out concerns that the ECB was short of means for any new stimulus measures.

Already, the ECB delayed the timing of its first rate hike in nearly eight years to the second half of 2020 at the earliest, during its June meeting, thanks to global growth concerns and tepid inflation outlook.

ECB president Draghi hinted that economic indicators point to persistent softness. Risks are skewed toward the downside. The rising threat of protectionism, possible US sanctions on EU, Brexit issuers, US-China trade war and vulnerabilities in emerging markets are leading the ECB to consider a more dovish approach.

The trade war-related risks have taken a toll on exports and in particular manufacturing. Inflation is also under control, with the annual figure of 1.2% far below the bank's target of about 2%.

If the ECB rolls out more stimulus, the following European stocks will likely gain in the coming days.

Unilever NV

Unilever is one of the world's largest consumer product companies. These firms produce and market a wide range of food, home and personal care products. Their leading brands include Dove, Lipton, Magnum, Omo and Rama. The stock has a Zacks Rank #2 (Buy). It comes from a top-ranked Zacks Industry (top 31%) and has a top VGM Score of A.

Logitech International S.A. (LOGI - Free Report)

This Zacks Rank #2 company designs, manufactures and markets innovative peripherals that provide people with easy access to the digital world. The company's product portfolio includes Internet video cameras, mice and trackballs, keyboards, audio and telephony products, interactive gaming devices and 3D controllers. It hails from a top-ranked Zacks Industry (top 25%) and has a VGM Score of B.

GW Pharmaceuticals Plc

U.K.-based GW Pharmaceuticals is a biopharmaceutical company focuses on discovering, developing and commercializing therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. It belongs to a top-ranked Zacks Industry (top 33%) and has a Momentum Score of A. The stock has a Zacks Rank #2.

NXP Semiconductors N.V. (NXPI - Free Report)

It is a global semiconductor company with a Zacks Rank #2. The stock has a VGM Score of B. It comes from a top-ranked Zacks sector (top 50%).

Ingersoll-Rand Plc (Ireland) (IR - Free Report)

The Zacks Rank #2 Ingersoll-Rand is a diversified industrial manufacturer with market-leading brands serving customers in the global commercial, industrial and residential markets. The stock has a top Momentum Score of A.

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