EUROPEAN SHARES
Equities fluctuated on Monday in Europe following a bullish trading session in Asia as risk appetite stayed high at the beginning of the second half of the year.
The STOXX-50 index registered a new all-time high above the 4,420.0pts level shortly after the opening bell this morning, with most sectors on the rise and financial as well as energy shares as the top movers. Positive sentiment prevails so far, brought mainly by eased inflation concerns and despite mixed PMI data from the Eurozone.
While today’s focus is likely to be caught by this afternoon’s US ISM manufacturing data release, some investors are already bracing for the start of the next earning season, due later this month. The effects of the current aggressive monetary tightening campaigns in both the EU and the US are yet to be seen inside these economies, and their impact towards corporate profits (minor or significant) should become a new market driver for equity traders in the second part of 2023, especially as benchmarks have already flirted with record levels.
Pierre Veyret– Technical analyst, ActivTrades
Source: ActivTrader
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