(1338 GMT) While allocations to UK equities have been at rock bottom "for many months", Raymond James European strategist Chris Bailey reckons a recent recovery in the pound and UK domestic stocks (see chart below) could continue, driving money back into the market some investors have shunned as Brexit looms.
"Our call is that the UK doesn't end 2018 so out of favour," he says, adding "ever more conciliatory" commentary around Brexit will support equities.
Welcome to the home for real time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni.
construction, engineering, building materials and other companies tied to infrastructure spending, but steel-nerved investors could be poised for gains if they weather a few bumps.
"It's been a strong start of the year for global stocks and Italy has a high beta that can explain why it's outperforming.
Italy is a proxy of European markets and it's gearing towards financial stocks which are doing particularly well because of the yield curve steepening.
Good evening from us, here's your closing snapshot: (Julien Ponthus) ***** MACQUARIE FAVOURS U. BANKS OVER EUROPE (1547 GMT) The sector has come into focus with the Q4 results season just round the corner and bond yields on the rise. "As a result, we prefer US to European banks," Macquarie adds, singling out Bank of America , Goldman and Morgan Stanley.
The Gucci-owner said it planned to spin off German sports brand Puma to the French conglomerate's shareholders as it sharpens the group's focus squarely on its luxury brands.
Here's how shares in the two companies performed over the last year.
Here are your early calls, courtesy of CMC Markets: FTSE 100 is expected to open 3 points higher at 7,766 DAX is expected to open 47 points higher at 13,250 CAC40 is expected to open 19 points higher at 5,507 (Danilo Masoni) ***** (Reporting by Danilo Masoni, Helen Reid, Kit Rees and Julien Ponthus) Welcome to the home for real time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Helen Reid.
Reach her on Messenger to share your thoughts on market moves: [email protected] SNAPSHOT: STOXX RETREATS AS ECB MINUTES PUSH EURO HIGHER (1635 GMT) The STOXX closed down 0.3 percent and never recovered from the rise in the euro following the publication of the ECB's minutes, which bolstered expectations of a shift in monetary policy.
Reach him on Messenger to share your thoughts on market moves: [email protected] ON THE UP (0705 GMT) European stock futures have opened higher, pointing to a recovery of losses suffered yesterday when benchmarks were weighed down by a stronger euro.