Hi, my name is Carl Rogan and every Monday morning I will be bringing you my views of what happened during the previous week and what to look out for in the coming week.
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 steadily busy without being spectacular.
The S&P 500 closed at a record high on Friday, gold had a little wobble and oil prices spiked after fresh EU sanctions on Russian firms Rosneft and Lukoil.
Paris was the most traded market on Equiduct every day last week with total turnover of €856million, contributing to overall turnover of €2.25billion.
BNP was our most traded stock from Monday to Wednesday after a US jury found that they had violated US sanctions on Sudan. This resulted in BNP being our most traded stock last week with €130million turnover, well clear of BBVA in second spot.
We saw less volatility from Q3 earnings reports last week although Bankinter were the most traded stock on Thursday after publishing results that morning.
This week …
Has the potential to be particularly volatile.
Interest rate decisions are due from the US, Canada, Japan and the ECB. A quarter point cut is expected by the Federal Reserve whilst the ECB is likely to hold rates.
GDP figures will be released for the US and Eurozone and inflation updates are expected for several European countries.
We’re set for a bumper week of Q3 results with Alphabet, Amazon, Meta and Microsoft all announcing figures in the US.
In Europe, a whole host of Equiduct’s most traded stocks will publish figures including BBVA, Santander, Caixa, ING, Shell, BNP and TotalEnergies.
On Sunday there appeared to be a breakthrough in US/Chinese trade negotiations with US Treasury Secretary Scott Bessent briefing “I think we have a very successful framework for the leaders to discuss on Thursday”.
If an agreement is reached and Trump’s 100% tariffs on Chinese imports disappear then expect markets to climb even higher by the end of the week.
Will the US government shut down continue into November? It should be another interesting week ahead.
That’s all folks, until next week… Happy investing!
Carl
