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OFFON

Patrick
Rejaunier

Equity Analyst
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Stoxx Europe 600 : Europe is doing well

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03/14/2019 | 12:45pm EDT

The easing on the various fronts of world trade, Chinese growth and monetary normalization made us forget the continental risks and encouraged operators to intensify their investments in the various European markets. As a result, the extended index of the 600 largest European companies is doing well, with an increase of 11.50% in 2019.



Among the big winners of this energetic recovery, Zalando, the specialist in shoes and clothing on the Internet, is recovering effectively (+50%). The company expects its turnover to grow by between 20 and 25% for the current year. Siapem is also up 49%, thanks to good prospects. The Italian company, a subsidiary of ENI, is active in the drilling industry.

Technically in daily data, the V-bottom has increased the strength of the buying movement tenfold. Since the low point at the end of December and the upward crossing of the moving average of the 20 trading sessions, permanent compliance with this reference has validated the determination of the buyer current. The index has just crossed the short-term resistance of 375 points which opens the way to 386 points. A rapid decline of 365 points will be required to dash hopes for further expansion in the near future. In the meantime, the upward trend remains intact

Stocks mentioned in the article
ChangeLast1st jan.
EURO STOXX 50 -1.83% 3305.73 Delayed Quote.10.14%
STOXX EUROPE 600 -1.22% 376.03 Delayed Quote.11.37%

Patrick Rejaunier
© MarketScreener.com 2019
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