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BoJ Speculation Helps STOXX 50 Off Lows

EQUITIES

The STOXX 50 index is little changed as of typing (-0.1% in cash trade, with futures -6), with the spill over surrounding dovish BoJ source reports helping to take the edge off the post-earnings weakness in SAP and any feed through from a late extension of NASDAQ & S&P 500 weakness on Thursday (note that U.S. e-mini futures are comfortably above late Thursday lows).

  • The weakness in SAP leaves the IT sector at the bottom of the pile in Eruope, while the energy and consumer staples sectors outperform.
  • The well-defined technical picture that we have outlined over recent days remains intact.
  • EPFR data indicated a 19th straight week of net redemptions for European equity funds, in data covering the week through Wednesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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