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 names highlighted this week include Outokumpu
(OUTO.FI; OUT1V:FH), LegImmobilien (LEGX.DE; LEG:GR), ABB (ABBN.CH; ABBN:SW), Michelin (MCL.FR; ML:FP),
Puma (PUMX.DE; PUM:GR), Carlsberg (CAB.DK; CARLB:DC), Amundi (AMUN.FR; AMUN:FP), Essilorluxottica (EI.FR;
EL:FP), and Deutsche Post (DPWX.DE; DPW:GR).
Symbol: LKOD.GB
Global Laggards
Attached is the latest Global Laggards report from our analysts.
This report has been curated by our sector analysts to find stocks showing technical weakness. We believe these stocks 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.
Highlighted Charts
U.S.: Quaker Houghton (KWR), Terex Corp (TEX), Maxar Technologies (MAXR), Nielsen Holdings (NLSN), Iheartmedia (IHRT), Mohawk Industries (MHK), Carters (CRI), Nike (NKE), P V H Corp (PVH), Monster Beverage Corp (MNST), Brookfield Renewable Partners (BEP), Sunstone Hotel Investors (SHO), Mednax (MD), Jack In The Box (JACK), Autonation (AN), Caseys General Stores (CASY), Wingstop (WING), IPG Photonics Corp (IPGP), NCR Corp (NCR), Calix (CALX), Mongodb (MDB), Oracle Corp (ORCL), Sun Country Airlines (SNCY).
Developed: Croda International (CRDA.GB, CRDA LN), Kion Group (KGXX.DE; KGX GR), Daiwa House Industry (DH@N.JP; 1925 JP), Central Japan Railway (JRCE.JP; 9022 JP), Toho (TOHO.JP; 9206 JP), Hengan International Group (HENG.HK; 1044 HK), Pjsc Lukoil Spon (Lon) Adr (LKOD.GB; LKOD LI), Westpac Banking (WBC.AU; WBC AU), Biomerieux (BIM.FR; BIM FP), Boral (BLD.AU; BLD AU), Carsales.com (CAR.AU; CAR AU), East Japan Railway (EAJR.JP; 9020 JP).
Emerging: Tata Consumer Products (TEA.IN; TATACONS IN), CCC (CCC.PL; CCC PW), Kce Electronics (KCNT.TH; KCE TB).
Won Europe Today
We released our Weekly Global Laggards Report yesterday (please 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 names highlighted this week include
Mondi (MNDI.GB; MNDI:LN), Accor (AC.FR; AC:FP), Royal Unibrew (RBR.DK; RBREW:DC), Dcc (DCC.GB; DCC:LN),
Gerresheimer (GXIX.DE; GXI:GR), and Kuehne Und Nagel International (KNIN.CH; KNIN:SW).
European Weekly Summary
MARKET SUMMARY
The Stoxx 600’s uptrend has been under pressure since the end of May, reflected by the increasing number of distribution days. This week through Thursday, the Stoxx 600 gained two additional distribution days, bringing its total to six. The index is down 0.46% on a weekly basis, adding to last week’s 1.07% decline. This was its third consecutive weekly decline.
The index is trading near its 50-DMA, which remains a key support level; as long as it holds, the uptrend should remain intact. However, with the recent rise in and concentration of distribution days across different markets, we recommend being very selective in adding new names and sticking to leadership.
