Author: Neeraj Khanna
European Focus Long
European markets declined 0.4% on average this week, the third weekly
decrease in the last four. Sweden outperformed, rising 1.2%, and Portugal
gained 0.3%. However, most other countries were flat or down. Four
markets – Belgium, France, Ireland, and Luxembourg – were moved to
Under Pressure, joining Portugal. France and Germany declined 0.3%
and 1.4%, respectively, but Finland was the worst performer, losing
2.3%.
Global Focus Emerging Long
The Shenzhen and Shanghai indices ended down slightly on Friday, the only day open this week after the Lunar holiday. The markets remain weak with the Shenzhen remaining the weakest of the two. The index is trading approximately 4% and 2% below its 10- and 40-week moving averages. Volume has also been below average for both indices since last December. Going forward we are waiting to see whether markets trigger a follow-through day, which would indicate a possible beginning of a change in trend.
