EUROPEAN SHARES
Share markets edged higher everywhere in Europe on Monday, paring some of last week’s losses ahead of another busy week on the macro front.
Benchmarks were in the green from Frankfurt to Madrid this morning, driven higher by all sectors, with the top performers among real estate and tech shares.
Market sentiment was on the rise after investors assessed the military action in Gaza from Israel over the weekend as more limited than had been expected. However, this sentiment may be short-lived as the geopolitical situation remains tense in the region, especially as the ground invasion continues this morning.
Elsewhere, another bearish pressure to market sentiment comes from the macro front as traders face a hectic week with CPI reports from Eurozone countries, the Chinese Industrial Production, the BoE’s decision on UK rates as well as a batch of key US data with the PMI, JOLTs, FOMC meeting and NFP report.
With that said, market volatility is most likely to remain high for riskier assets, and investors will cautiously assess how everything will play out this week before making any decisions on where to drive their portfolio’s exposure for the weeks to come.
The STOXX-50 currently challenges the 4,030.0pts support in a pullback move following last Friday’s losses and today’s rebound from the 4,013.0pts/3,993.0pts zone.
Pierre Veyret – Technical analyst, ActivTrades
Source: ActivTrader
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