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 another week of high turnover, mostly driven by Q3 earnings reports.
The S&P 500 hit another high with five of the “magnificent seven” releasing earnings figures.
Donald Trump met with Xi Jinping and managed to reach agreement in a number of areas, easing trade tensions between the two.
We also had interest rate decisions from the US and ECB in what was an action-packed week of economic events.
After being usurped by Paris the previous week, Madrid regained the title of most traded market on Equiduct turning over €857million.
It was an all-time record turnover month for Equiduct with over €11billion traded in October. This surpassed our previous record set back in March this year.
Q3 updates from BNP on Tuesday, Santander on Wednesday and BBVA on Thursday saw all three stocks heavily traded and Santander was crowned most traded stock of the week with turnover of €128million.
This week …
Doesn’t have the packed schedule of last week but certainly has the potential to be busy again.
The Bank of England makes its latest interest rate decision on Thursday whilst US non farm payroll figures are due to be announced on Friday.
This could be delayed again if the US shutdown is still unresolved, which would add more weight to the ADP national employment report on Wednesday.
Whilst last week was the big one for Q3 earnings, we still have some big European names releasing updates this week, including Rheinmetall, Grifols, Telefonica and IAG.
Despite mostly positive updates last week, there is still plenty of noise about an AI bubble and a lot of concern about the huge amounts being invested in this area.
I don’t think it would take too much to spook markets and will be watching closely for signs of a tech sell off.
European markets are on a streak of four consecutive months of gains. Will November make it five? How much longer will this US government shut down last? It should be another interesting week ahead.
That’s all folks, until next week… Happy investing!
Carl
