Free Trial

Uptrend Puts EuroStoxx50 at New Cycle Highs

EQUITIES
  • After an unimpressive Tuesday session, the uptrend resumed Wednesday, with Europe bouncing well after a solid Asia-Pacific session. The uptick in risk appetite worked in favour of the EuroStoxx50, in which a rally in consumer discretionary and utilities names to put the index at new cycle highs. The index touched 4251 for the first time since March 2008.
  • Across Wall Street, the three major indices also traded in the green, with the S&P 500 higher by 0.2%. Strength in US real estate and utilities countered weakness across energy and financials, helping the index to hold just below alltime highs.
  • The resumption of the uptrend for stocks weighed on the VIX index, which hit new weekly lows and narrowed the gap with the post-COVID lows printed in late June at 14.10.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.