We released our Weekly Global Laggards Report today. Click here to access the full report. The stocks highlighted in this report are laggards relative to their own domestic markets. We recommend that they be underweighted as they may be vulnerable to further downside risk and underperformance. European stocks include Tenaris (TEN.IT; TEN:IM), Rio Tinto (RIO.GB; RIO:LN), Alfa Laval (ALF.SE; ALFA:SS), AAK (AAK.SE; AAK:SS), and Koninklijke Philips N.V. (PHIL.NL; PHIA:GK).
Author: Deepashree MC
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq gained ~0.6% and ~1.1%, respectively. Immediate
support is at their 50-DMA (5,556; 17,378). Resistance is at their 200-DMA (5,748; 18,315). The distribution day count stands at one on
the S&P 500 and zero on the Nasdaq.
Won Europe Today
Yesterday,
- European markets closed lower as the U.S. Federal Reserve kept interest rates unchanged at 4.25–4.50%, citing ongoing inflation risks linked to tariff pressures. Eurozone retail stocks led sectoral losses following a steeper-than-expected decline in March retail sales. Health Care remained under pressure amid declines in shares of drugmakers, following leadership changes at the U.S. FDA’s vaccine division.
- Among key movers on the Stoxx 600, shares of the Danish lender Jyske Bank (JYK.DK) rose ~7% following a better-than-expected Q1 FY25 earnings print. Shares of the medical equipment manufacturer Ambu B (AMB.DK; AMBUB:DC) declined 13.5% after the company reported a miss in its Q1 FY25 results.
- The Stoxx 600 closed 0.5% lower, marking a pause in its rally from the previous week. It is testing support at its 50-DMA. Next support is at its flattish 100-DMA (-0.7%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Most sectors closed in negative territory. Retail (-222bps) and Health Care (-139bps) led the losses, while Mining (+33bps) and Travel and Leisure (+32bps) gained the most.
- Among major indices, France’s CAC 40 extended its losses for a third straight session, closing almost 1% lower. It failed to reclaim its 100-DMA and is now testing support at its converging 10- and 200-DMA. Germany’s DAX 30 was down 0.5%. The index still remains slightly extended from its key near- to mid-term support levels. The U.K.’s FTSE 100 closed 0.4% lower, marking its first loss over the past two weeks. Near-term support is at its 50-DMA, followed by its 100-DMA.
- Belgium and France recorded their second and third distribution day, respectively.
- Ten of the 16 indices we track closed in the red. Ten are in a Confirmed Uptrend, five in a Rally Attempt, and one in an Uptrend Under Pressure. The average distribution day count stands at 1.6.
- All the 17 European Focus List names are trading above their 200-DMA, while 16 ideas are trading above their 50-DMA.
- Actionable names in the European Focus List are Belimo N (BEAN.CH; BEAN:SW), Scout24 (G24X.DE; G24:GR), SPIE (SPIE.FR; SPIE:FP), Games Workshop (GAW.GB; GAW:LN), 3i Group (III.GB; III:LN), Premier Foods (PFD.GB; PFD:LN), Sap (SAPX.DE; SAP:GR), and Relx (REL.GB; REL:LN).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq gained 30–40bps on higher d/d volume. Immediate
support is at the 50-DMA (5,561; 17,401) and resistance is at the 200-DMA (5,747; 18,315). The distribution day count stands at one on
the S&P 500 and zero on the Nasdaq.
Won Europe Today
Yesterday,
- European markets declined amid ongoing tariff uncertainty, as investors grappled with shifting U.S. trade policies.The U.S has signaled upcoming pharmaceutical tariffs within two weeks, following a surprise announcement of a 100% tariff on foreign-made films. Meanwhile, attention turned to the Fed’s policy meeting, with markets widely expecting rates to remain unchanged. In addition, the Bank of England’s interest rate decision is scheduled this week.
- Among key movers on the Stoxx 600, shares of the Danish wind maker Vestas Wind Systems (VEW.DK; VWS:DC) rose ~9% after the company reported strong operating profit in Q1 FY25. On the flip side, shares of the medical equipment manufacturer Coloplast (COL.DK; COLOB:DC) fell 6% after its CEO stepped down, following lower-than-expected Q2 FY25 results.
- The Stoxx 600 closed 0.2% lower after having gained in its past 10 consecutive sessions. It faced resistance at its early April high. Immediate support remains at its 50-DMA. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among sectors, Utility (+51bps) and Automobile (+44bps) led the gains, while Health Care (-130bps) and Technology (-59bps) lagged the most.
- Among major indices, France’s CAC 40 posted losses for a second straight session and closed 0.4% lower. The index breached its 100-DMA. Next support is at its converging 10- and 200-DMA (-1.1%).Germany’s DAX 30 declined about 0.4%, with near-term support at its 10-DMA. The U.K.’s FTSE 100 traded in line with its early April high and closed flat.
- Denmark was shifted to an Uptrend Under Pressure from a Confirmed Uptrend.
- Germany and Belgium recorded their first distribution day, while France and Denmark registered their second and third, respectively.
- Eleven of the 16 indices we track closed in the red. Ten are in a Confirmed Uptrend, five in a Rally Attempt, and one in an Uptrend Under Pressure. The average distribution day count stands at 1.4.
- All the 16 European Focus List names are trading above their 200-DMA, while 15 ideas are trading above their 50-DMA.
- Actionable names in the European Focus List are Belimo N (BEAN.CH; BEAN:SW),SPIE (SPIE.FR; SPIE:FP), Games Workshop (GAW.GB; GAW:LN), 3i Group (III.GB; III:LN), Premier Foods (PFD.GB; PFD:LN), Sap (SAPX.DE; SAP:GR), and Relx (REL.GB; REL:LN).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 declined ~0.8% on higher d/d volume, registering its first distribution
day. The Nasdaq declined ~0.9% on lower d/d volume, avoiding a distribution day. Immediate support is at the 50-DMA (5,568; 17,427).
Resistance is at the 200-DMA (5,747; 18,315).
O’Neil Consumer/Retail Weekly
Consumer Staples (XLP):. The index gained ~0.9% in the past one week. It is trading sideways along its merging 50- and 200-DMA. It is
forming a stage-one flat base with a pivot of $84.35 (+4%). Support is at its 50-DMA (-0.4%), followed by its 200-DMA (-0.7%).
Won Europe Today
We released our European Weekly Summary yesterday. Click here to access the full report. Key points from it include:
- European markets jumped more than 3% last week, lifted by strong earnings, U.S. job data, and easing U.S.-China trade tensions. A better-than-expected Eurozone inflation in April has not ruled out chances of ECB rate cuts amid ongoing growth risks.
- On the sectoral front, Health Care, Technology, and Travel & Leisure led the gains, but face significant overhead resistance. Oil & Gas, Autos, and Mining continue to remain weak.
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq declined 0.6–0.7% on lower d/d volume, avoiding a
distribution day. Immediate support is at their 50-DMA (5,575; 17,459). Resistance is at their 200-DMA (5,746; 18,316).
Won Europe Today
On Friday,
- European markets ended the week on a positive note, lifted by a busy earnings season, easing U.S.-China trade tensions, and a steady U.S. jobs report that supported investor sentiment. The euro also strengthened after Eurozone’s inflation came in flat in April but exceeded expectations.
- Among key movers on the Stoxx 600, shares of Airbus (AIRS.FR; AIR:FP) were up more than 5% after the company reported better-than-expected quarterly results and reaffirmed its annual guidance.
- The Stoxx 600 gapped up 1.7% on higher volume after finding support at its 200-DMA and reclaimed its 50- and 100-DMA. It is now trading above all its key moving averages.We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Most sectors closed in positive territory, with Travel and Leisure (+473bps) and Technology (+409bps) leading the gains. Utility (-66bps) was the only sector to close in the red.
- Among major indices, France’s CAC 40 was up more than 2% and retook its 100-DMA. It was facing resistance at its 50-DMA.Germany’s DAX 30 bounced off support at its 50-DMA and closed 2.6% higher. Near-term resistance is at its mid-March high. The U.K.’s FTSE 100 marked its fifteenth consecutive session of gains, its new longest run ever. The index reclaimed its 50-DMA and is trading above all its key moving averages.
- Portugal recorded its second distribution day.
- All the 16 indices we track closed in the green, except Portugal. Ten are in a Confirmed Uptrend and six in a Rally Attempt. The average distribution day count stands at 1.3.
- All the 15 European Focus List names are trading above their 200-DMA, while 14 ideas are trading above their 50-DMA.
- Actionable names in the European Focus List are Belimo (BEAN.CH; BEAN:SW),SPIE (SPIE.FR; SPIE:FP), Games Workshop (GAW.GB; GAW:LN), 3i Group (III.GB; III:LN), Premier Foods (PFD.GB; PFD:LN), and Relx (REL.GB; REL:LN).
