My views are my own and they do not constitute investment advice. My views are derived from Equiduct’s unique data set which represents a clean retail signal free of distortion from institutional investors and therefore are telling of what the sentiment of European retail investors is.
Without further ado, let’s dive right into it!
Last week …
Was one for the bulls with markets, including the FTSE 100, IBEX35 and DAX40, hitting record highs.
Trading on Equiduct got off to a great start with the first full week of 2026 seeing volumes exceeding €3.1billion!
The week started strongly with over €700million traded on Monday and that momentum carried on throughout the week.
Amsterdam was particularly busy with ASML being the most traded stock on Monday, Tuesday and Friday, partially thanks to analyst upgrades.
That wasn’t enough to knock BBVA off top spot however, although it was very close last week.
Repsol was the third most traded stock with the energy sector seeing volatility across the board thanks to the weekend’s events in Venezuela. Oil prices fell 1% before recovering later in the week.
Weapons manufacturers were heavily traded again.
This week …
Will do well to match last week, but at the same time, I wouldn’t bet too heavily against it.
The Q4 earnings season will kick off on Tuesday when several US banks begin releasing results.
This alone has the potential to spark volatility but then we also have US inflation data, a CPI update and the monthly retail sales figures.
In the background, geopolitical tensions continue to bubble away with Cuba now joining Greenland in Donald Trump’s sights. Protests in Iran also continue to escalate and US intervention has been threatened as a possibility by Trump.
Another upcoming event with considerable potential to rock markets is the Supreme Court’s ruling on the legality of Trump’s Tariffs.
This was a major source of volatility in 2025 and if the tariffs are ruled illegal then more market turmoil could follow. A decision is expected imminently.
Will the bulls have their way again this week? Could inflation data throw a spanner in the works? Who might fall under Trumps’s gaze next? Let’s see how the week unfolds.
That’s all from me, until next week… Happy investing!
Carl
