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 …
Finally saw the longest US government shut down in history come to an end.
It was a bullish week for European markets with Madrid, Paris and Milan all recording gains.
We saw increased Italian activity as the MIB40 climbed above 44,000 (a 30% increase in 2025) before dipping back below by end of day on Friday.
The Spanish market again dominated trading on Equiduct, turning over a billion euros and contributing heavily to weekly turnover of €2.5billion.
BBVA was the most popular stock for the second week in a row occupying top spot from Monday through to Friday with ADV of €45 million.
This week …
Is likely to be dominated by behemoth NVIDIA’s Q3 results which are released on Wednesday.
With so much anxiety around the valuations of tech stocks, any sort of significant deviation from analyst’s expectations could send ripples through the markets.
Investor Michael Burry of “Big Short” fame has been critical of tech valuations in recent weeks and declared last week that “My estimation of value in securities is not now, and has not been for some time, in sync with the markets”.
We should start to see some US government data being released later in the week now the shutdown has ended. The lack of clarity has lent weight to the possibility that a US rate cut next month might not materialise. Minutes of the previous meeting will be released this week which should give a better steer to investors.
There have been so many different events this year already that have caused shockwaves in the markets. From Trumps’s Tariffs, government shutdowns, regional wars, political upheaval etc etc It almost feels like we can expect something new to happen every week. It’s a very interesting time for financial markets. Which will it go this week?
That’s all folks, until next week… Happy investing!
Carl
