Author: Deepashree MC

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets rebounded from recent losses as optimism improved following Ukraine’s agreement to a 30-day ceasefire with Russia, with negotiations from the U.S. Market sentiment was further lifted by cooler-than-expected U.S. inflation data. The CPI rose 0.2% in February, bringing the seasonally adjusted annual inflation rate to 2.8%.
  • Among significant movers on the Stoxx 600, shares of the Danish pharmacy group Zealand Pharma (ZEA.DK; ZEAL:DC) soared 38% following announcement of a $5.3B collaboration deal with the Swiss health care group Roche (ROC.CH). On the flip side, shares of Puma (PUMX.DE; PUM:GR) fell almost 20% after the company posted softer-than-expected Q4 FY24 results and downgraded its FY25 guidance for sales and profit.
  • The Stoxx 600 bounced off support at its 50-DMA, closing 0.8% higher. It has near-term resistance at its 10- and 21-DMA. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Banks (+156bps), Financial Services (+154bps), and Energy (+150bps) were the top gainers, while Retail (-288bps) and Mining (-47bps) led the losses.
  • Among major indices, France’s CAC 40 recovered from its three consecutive sessions of losses. The index closed 0.6% higher after finding support at its February 5 low. Near-term resistance is at its 10- and 21-DMA.Germany’s DAX 30 retook its 21-DMA, closing 1.5% higher. The index was facing resistance at its 10-DMA. The U.K.’s FTSE 100 closed in the green after recording losses for six straight sessions. The index was facing resistance at its 50-DMA.
  • The U.K. and the Netherlands recorded Day 1 of their Rally Attempt, while Denmark made a new low.
  • Twelve of the 16 indices we track closed in the green. Three indices are in a Confirmed Uptrend, 10 in an Uptrend Under Pressure, and three in a Downtrend. The average distribution day count stood at 4.4.
  • Of the 24 European Focus List names, 18 ideas are trading above their 200-DMA, while 10 ideas are trading above their 50-DMA.
  • Actionable names in the Focus List include Moncler (MONC.IT; MONC:IM), 3i Group (III.GB; III:LN), Hermes (RMS.FR; RMS:FP), Relx (REL.GB; REL:LN), Adyen (ADYE.NL; ADYEN:NA), and Technogym (TGYM.IT; TGYM:IM).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Downtrend. The S&P 500 and Nasdaq gained 49bps and 122bps, respectively, and registered the first day
of a Rally Attempt. Key resistance for both indices remains at the 200-DMA (5,737/18,410).

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets extended their losses for the fourth straight session on concerns over U.S. trade policies impacting global growth. Investor sentiment weakened after the U.S. doubled tariffs on Canadian steel and aluminum imports to 50%, with the possibility of additional auto tariffs next month if Canada does not ease its own trade measures. Eurozone was not directly affected, but market volatility increased, weighing on equities.
  • Among significant movers on the Stoxx 600, shares of British Airways owner International Airlines Group (IAG.GB; IAG:LN) fell 6.1%. Shares of the Swiss skincare group Galderma (GALD.CH; GALD:SW) gapped down 6.6% after the company sold around 6.3% stake worth $1.3B.
  • The Stoxx 600 declined 1.7% and closed almost in line with its 50-DMA, marking its longest losing streak since December 2024. We expect the index to find near-term support at this level. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • All sectors closed in the red. Travel and Leisure (-339bps), Health Care (-324bps), and Retail (-296bps) led the losses.
  • Among major indices, France’s CAC 40 failed to reclaim its near-term support levels and closed 1.3% lower. Next support is at its 50-DMA (-0.8%). Germany’s DAX 30 broke below its 21-DMA, marking its third session of losses. Support is at its February 12 low, followed by its 50-DMA.The U.K.’s FTSE 100 declined for a sixth session, closing 1.2% lower and breaking below its 50-DMA.
  • Italy and Belgium recorded their third distribution day, while Finland and Sweden logged in their sixth. Norway increased its distribution day count to seven.
  • The U.K. and the Netherlands were downgraded to a Downtrend from an Uptrend Under Pressure.
  • Belgium, Germany, and Switzerland were shifted to an Uptrend Under Pressure from a Confirmed Uptrend as the indices breached their key near- to mid-term support levels.
  • All the 16 indices we track closed in the red. Three indices are in a Confirmed Uptrend, 10 in an Uptrend Under Pressure, and three in a Downtrend. The average distribution day count stood at 4.6.
  • Of the 24 European Focus List names, 17 ideas are trading above their 200-DMA, while 10 ideas are trading above their 50-DMA.
  • Actionable names in the Focus List include Moncler (MONC.IT; MONC:IM), Safran (SGM.FR; SAF:FP), Relx (REL.GB; REL:LN), and Technogym (TGYM.IT; TGYM:IM).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Downtrend. The S&P 500 declined 76bps yesterday and continues to trend downward on above average
volume. Next support is around the 5,500 level (-1%). The Nasdaq fell 18bps on above average volume. Next support is around the 17,000
level (-3%).

Won Europe Today

Posted on by Deepashree MC

We released our European Weekly Summary yesterday. Click here to access the full report. Key points from it include:

  • European markets eased slightly, ending a 10-week winning streak as investors remained cautious amid ongoing global trade tensions between the U.S. and other nations. Most indices are nearing their short-term moving averages but still above their 50-DMA.
  • Market leadership in Europe is tightening, with the number of breakouts declining to 10, the lowest since December 2024. The number of stocks near pivot points have also declined sharply, reaching the lowest level since December 2022.

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Downtrend. The S&P 500 declined ~2.7% yesterday and broke below support at 5,700. Next support is
around 5,400 (-4%). The Nasdaq fell 4% on above average volume and broke below the 18,000 level. Next support is around 17,000 (-
3%).

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European markets closed lower, capping a volatile week as investors reacted to shifting U.S. tariff policies. The U.S. granted temporary exemptions on nearly half of the Canadian and the Mexican imports, adding to market uncertainty. In addition, weaker-than-expected U.S. non-farm payroll data dampened sentiment. Meanwhile, with China still facing a 20% export duty from the U.S., the Eurozone’s luxury sector underperformed, with Burberry Group (BRBY.GB; BRBY:LN), Richemont (CFR.CH; CFR:SW), and Kering (KER.FR; KER:FP) declining 3–6%.
  • Among significant movers on the Stoxx 600, shares of the Belgium-based electric power company Elia Group (ELI.BE; ELI:BB) rose more than 17% after the company reported better-than-expected full-year results.
  • The Stoxx 600 snapped its 10-week positive streak, closing almost 0.5% lower, in line with its 21-DMA. Next support is at its February 12 high (547; -1%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Telecommunications (+203bps), Utility (+160bps), and Food and Beverage (+131bps) were the top gainers, while Mining (-160bps) and Automobile (-139bps) lagged the most.
  • Among major indices, France’s CAC 40 breached its 10-DMA on lower volume. The index closed almost 1% lower, with near-term support at its 21-DMA. Germany’s DAX 30 closed 1.7% lower. The index was still trading above all its key support levels. The U.K.’s FTSE 100 closed flat, with support at its 200-DMA (-1.5%).
  • Denmark was downgraded to a Downtrend from an Uptrend Under Pressure as the index breached all its moving averages. Portugal was upgraded to a Confirmed Uptrend from a Rally Attempt after the index recorded a follow-through day.
  • Six of the 16 indices we track closed in the green. Seven indices are in a Confirmed Uptrend, eight in an Uptrend Under Pressure, and one in a Downtrend. The average distribution day count stood at 4.6.
  • Of the 25 European Focus List names, 23 ideas are trading above their 200-DMA, while 12 ideas are trading above their 50-DMA.
    • We removed Swedish Orphan Biovitrum (SOBI.SE; SOBI:SS) from our European Focus List after the stock breached its 200-DMA on high volume.
  • Actionable names in the Focus List include Games Workshop (GAW.GB; GAW:LN), Technogym (TGYM.IT; TGYM:IM), and 3i Group (III.GB; III:LN).

Won Global View

Posted on by Deepashree MC

The U.S. market was shifted to a Downtrend. The S&P 500 declined ~3.1% last week despite staging an upside reversal and closing
positive on Friday. It breached its 200-DMA (5,733) for the first time since November 2023, before closing just above. The Nasdaq fell
3.5% and closed the week below the 200-DMA (18,400) for the first time since October 2023. A follow-through day (FTD) for each index
now becomes first possible on Wednesday, March 12, assuming no further lows are made.

Won Europe Today

Posted on by Deepashree MC

We released our Weekly Global Laggards Report today. Click here to access the 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 Prysmian (PRY.IT; PRY:IM), BP (BP.GB; BP/:LN), Drax Group (DRX.GB; DRX:LN), Nyfosa (NYFO.SE; NYF:SS), and Infrastructure Wireless Italiane (INW.IT; INW:IM).

Won Global View

Posted on by Deepashree MC

The U.S. market has shifted to a Rally Attempt. The S&P 500 declined ~180bps on lower volume and closed just above its 200-DMA
(5,730). Next support is near July highs of 5,670. The Nasdaq declined ~260bps on higher volume, closed below the 200-DMA (18,392),
and has support near August highs of 18,018. It held above Tuesday’s low, indicating day three of the attempted rally.