We released our Weekly Global Laggards Report today. Click here for 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 Brenntag (BNRX.DE; BNR:GR), Atlas Copco (ACBF.SE; ATCOB:SS), Publicis Groupe (PUB.FR; PUB:FP), Richemont N (CFR.CH; CFR:SW), Essity B (ESSI.SE; ESSITYB:SS), and London Stock Exchange Group (LSEG.GB; LSEG:LN).
Author: Deepashree MC
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq extended gains, rising 7bps and 18bps, respectively. Support is
at their rising 10-DMA (6,303/20,842), followed by their 21-DMA (6,240/20,559). The distribution day count stands at three on each index,
with one expiring on each index today after market close.
Won Europe Today
Yesterday,
- European stocks closed at two-week highs, led by gains in Automakers, as optimism grew over a possible U.S.-EU trade deal to reduce impending tariffs. Investors continue to be on edge as the deadline of August 1 draws near and negotiations have stalled in recent weeks. The European Commission is preparing retaliatory measures should the negotiations fail.
- Among key movers on the Stoxx 600, shares of ASM International (ASIN.NL; ASM:NA) fell 10.4% following lower-than-expected Q2 bookings. Meanwhile, shares of UniCredit (UCG.IT; UCG:IM) advanced 3.6% following a solid Q2 earnings beat and an improved FY25 outlook.
- The Stoxx 600 surged 1.1% and reclaimed its 10- and 50-DMA. Next resistance is at its July high (+0.4%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among sectors, Automobiles & Parts (+376bps), Health Care (+239bps), and Oil & Gas (+181bps) were the top gainers, while Utility (-247bps), Technology (-111bps), and Telecommunications (-86bps) lagged the most.
- Among major indices, France’s CAC gained 1.4% on higher volume and reclaimed its 10- and 50-DMA. Next resistance is at its July high (+0.4%). Germany’s DAX closed 0.8% higher. It bounced off its 21-DMA and tested resistance at its 10-DMA.Next resistance is at its July high (+0.1%). The U.K.’s FTSE continued the positive momentum and advanced 0.8%, hitting an all-time high. Support is at its 10-DMA (-0.7%).
- Fifteen of the 16 markets we track closed in the green. Nine are in a Confirmed Uptrend, five in a Rally Attempt, and two in a Downtrend.
- Sweden was shifted to a Confirmed Uptrend from an Uptrend Under Pressure after the index reclaimed its previous rally high. Belgium was upgraded to a Confirmed Uptrend from a Rally Attempt after the index reclaimed its previous rally high.
- All 25 European Focus List names are trading above their 200-DMA, while19 names are trading above their 50-DMA.
- Actionable names in the Focus List include Galderma (GALD.CH; GALD:SW), Diploma (DPLM.GB; DPLM:LN), Alk-Abello B (ALK.DK; ALKB:DC), 3i Group (III.GB; III:LN), Lottomatica (LOTG.IT; LTMC:IM), Medicover B (MEDI.SE; MCOVB:SS), and Medacta Group (MOVE.CH; MOVE:SW).
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq advanced, gaining 78bps and 61bps, respectively. Support is at
their rising 10-DMA (6,290/20,795), followed by their 21-DMA (6,227/20,509). The distribution day count stands at three on each index,
with one set to expire on each index this Friday after market close.
Won Europe Today
Yesterday,
- European markets closed lower, with German stocks seeing their steepest decline in two months, dragged down by weak corporate earnings and fading hopes for a trade agreement between the U.S. and the European Union.
- The Stoxx 600 was down 0.4%, closing lower for its third consecutive session. It breached its 50-DMA and closed marginally below its 21-DMA. Support is at its July 4 low, followed by its 100-DMA.We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key resistance levels.
- Among significant movers on the Stoxx 600, shares of French lab equipment supplier Sartorius Stedim Biotech (DIM.FR; DIM:FP) declined 8% after the company reported its H1 results. Meanwhile, shares of Swiss flavor maker Givaudan (GIVN.CH; GIVN:SW) fell almost 6% after the company missed its H1 sales estimates.
- Among sectors, Utility (+123bps) and Mining (+122bps) were the top gainers, while Technology (-195bps) and Automobile (-128bps) lagged the most.
- Among major indices, France’s CAC 40 continued its downward rally for a third straight session and closed 0.7% lower. It breached support at its 50- and 100-DMA and is testing support at its 21-DMA. Germany’s DAX 30 lost more than 1% and broke below its 10- and 21-DMA on higher volume. It is finding support at its 50-DMA.The U.K.’s FTSE 100 closed 0.1% higher and is trading constructively along its rising 10-DMA, making new all-time highs.
- Finland and Germany recorded their fourth and fifth distribution day, respectively.
- The Netherlands was downgraded to a Downtrend from a Rally Attempt as the index made a new low.
- Eleven of the 16 indices we track closed in the red. Seven indices are in a Confirmed Uptrend, six in a Rally Attempt, one in an Uptrend Under Pressure, and two in a Downtrend. The average distribution day count stands at 2.6.
- All the 25 European Focus List names are trading above their 200-DMA, while 20 ideas are trading above their 50-DMA.
- Actionable names in the European Focus List are Galderma (GALD.CH; GALD:SW), Swissquote ‘R’ (SQN.CH; SQN:SW), Alk-Abello B (ALK.DK; ALKB:DC), Lottomatica Group (LOTG.IT; LTMC:IM), Nemetschek (NEMX.DE; NEM:GR), Bawag Group (BWGP.AT; BG:AV), Medacta Group (MOVE.CH; MOVE:SW), and Medicover B (MEDI.SE; MCOVB:SS).
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P 500 ended 6bps higher on higher d/d volume, while the Nasdaq declined 39bps on
lower d/d volume. Support is at their rising 10-DMA (6,274/20,744), followed by their 21-DMA (6,214/20,458). The distribution day count
stands at three on each index, with one set to expire on both indices this Friday after market close.
Won Europe Today
We released our European Weekly Summary yesterday. Click here to access the full report. Key points from it include:
- Last week, European indices closed mostly flat. The U.S. President’s early-July announcement of a 30% tariff on EU imports, effective August 1, resulted in mixed investor sentiment. Capital Equipment and Financial continued to lead, posting fresh breakouts and maintaining market leadership.
- Sector performance was mixed last week. Capital Equipment (+1.3%) and Financial (+0.9%) led the gains, while Utility and Transportation saw slight increases of 0.1–0.5%. In contrast, Health Care, Basic Material, and Consumer Cyclical declined 1.4–1.8%, while the remaining sectors fell 0.2–0.8%.
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq edged higher, gaining 14bps and 38bps, respectively. Support is
at their rising 10-DMA (6,266/20,711), followed by their 21-DMA (6,205/20,414). The distribution day count stands at three on each index
after one expired on the S&P 500 yesterday.
Won Europe Today
On Friday,
- European markets closed flat as gains in the energy sector offset weakness in major healthcare stocks. Investors remained cautious amid an intense week of earnings. Focus is now shifting to how businesses are reacting to changing U.S. tariff policies ahead of the crucial August 1 deadline.
- Among key movers on the Stoxx 600, shares of Epiroc (EPIA.SE; EPIA:SS) fell 9.2% after its Q2 earnings missed forecasts. Meanwhile, shares of Atlas Copco (SR@G.SE; ATCOA:SS) declined 7.8% after the company reported lower-than-expected Q2 profit and fewer new orders.
- The Stoxx 600 ended the session flat. It tested support at its 10-DMA. Next support is at its 21-DMA (-0.6%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among sectors, Food & Beverages (+76bps), Oil & Gas (+62bps), and Utility (+46bps) were the top gainers, while Health Care (-59bps), Technology (-59bps), and Automobiles & Parts (-46bps) lagged the most.
- Among major indices, France’s CAC 40 closed flat. Support is at its 10-DMA (-0.1%), followed by its 50-DMA (-0.8%). Germany’s DAX 30 declined 0.3% and tested support at its 10-DMA. Next support is at its 21-DMA (-1.1%). The U.K.’s FTSE 100 booked a gain of 0.2% and continued to trade above all its key moving averages. Support is at its 10-DMA (-0.5%).
- Nine of the 16 markets we track closed in the red. Seven are in a Confirmed Uptrend, one in an Uptrend Under Pressure, four in a Rally Attempt, and four in a Downtrend.
- Denmark was downgraded to a Downtrend from an Uptrend Under Pressure after the index breached its previous low. Spain was shifted to a Rally Attempt from an Uptrend Under Pressure.
- Germany and Portugal recorded their fourth distribution day, while Sweden recorded its third. The total average distribution day count stood at 2.62.
- All 25 European Focus List names are trading above their 200-DMA, while22 names are trading above their 50-DMA.
- Actionable names in the Focus List include Swissquote ‘R’ (SQN.CH; SQN:SW), Diploma (DPLM.GB; DPLM:LN), Lottomatica (LOTG.IT; LTMC:IM),Alk-Abello B (ALK.DK; ALKB:DC), Medicover B (MEDI.SE; MCOVB:SS), Nemetschek (Xet) (NEMX.DE; NEM:GR), Medacta Group (MOVE.CH; MOVE:SW),and Bawag Group (BWGP.AT; BG:AV).
Won Global View
The U.S. market is in a Confirmed Uptrend. On Friday, the S&P 500 and Nasdaq traded flat, remaining at or near all-time highs with
support at their rising 10-DMA (6,257/20,653), followed by their 21-DMA (6,194/20,358). The distribution day count stands at four and
three, respectively, with one day expiring on the S&P 500 today after market close.
