The week from the 30th April to the 4th May 2018 saw volumes traded on European markets 4.9% above the 12 month average, as the STOXX 600 rose for the sixth consecutive week, gaining 0.6%, outperforming the MSCI World (-0.3%), as US-China trade talks made little progress. With regards to the implementation of tariffs on the EU, President Trump extended the deadline imposed on the EU to allow for continued negotiations. Unemployment in the Eurozone remained unchanged at 8.5% (down from 9.5% a year earlier).
With regards to index performances, the best performer was the DAX 30, up 1.9%, with the PSI -20 losing 0.7%. The best performing sector was the Tech sector, up 2.5%, with sentiment improving globally, as Apple reported strong results,
- Sainsbury ’s shares soared 11.7% after the British supermarket confirmed it has agreed the terms of a proposed merger with Asda.
- Ferrari jumped 12.3% to hit record high after the luxury automaker reported better-than-expected financial results leading to target price upgrades from several brokers.
- WPP gained 11.5% after the British media group reported Q1 earnings that beat expectations and hinted at asset disposals following turbulence and departure of founder Martin Sorrell.
- Bpost dropped 10.6% as its Q1 results lagged expectations. The Belgian post group said it faced higher costs for its new Brussels sorting centre.
- 10.05.2018: Bank of England rate decision; UK trade balance; US CPI
Top Performing Stocks
Top Stocks by Investor Turnover
Nasdaq Advisory Services European Team Alexander Free
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