It was another week of bears’ dominance - the French CAC40 and the British FTSE250 declined by 1.1%, while the German DAX deteriorated by 1%. In the US, the DJI shrank by 0.3% and the S&P500 went down by 0.2%. Unlike to them, the NASDAQ rose by 0.5%. The market focused on the American tax reform last week. This was accepted by the House of Representatives, however, the risk of its rejection by the Senate remained meaningful. The materialization of this risk factor may significantly impact the market sentiment, even in a broader time horizon. Last week, investors learnt a lot of macroeconomic data as well.

Weekly comment MM Prime TFI  - November 13, 2017

Last week, the stock market sentiment was once again bullish. In Europe, the German DAX increased by almost 2%, the British FTSE250 rose by 1.6% and the French CAC40 soared by 0.4%. This was not surprising – the market learnt another portion of robust macroeconomic data from the Eurozone. The values of the confidence indices were high, the GDP growth rate for the third quarter exceeded market projection (2.5% y/y vs 2.4% y/y) and the September’s unemployment rate stood at 8.9% vs 9% expected. Wall Street ended the last week in positive territory as well. The NASDAQ went up by 0.9%, the DJI took off by 0.5% and the S&P500 rose by 0.3%.

Weekly comment MM Prime TFI  - October 30, 2017

Weekly comment MM Prime TFI  - October 23, 2017