Quotes from the news wire:
So far, European earnings have been better than expected, with investors focusing on company guidance to form a view on the market's likely direction, the market is definitely getting some boost, at least today, from some strong results from companies like SAP, with the technology sector leading the market higher.
We do not see any lasting potential for these sectors to outperform and believe any recovery might be short-lived, the trend of earnings estimates is declining strongly, relative valuation versus the overall market is still very high and a lasting trend reversal in commodity prices is not in sight. We recommend remaining underweight on commodity stocks.
The German data shows that the manufacturing activity is still expanding and concerns that a recent rise in the euro would hurt German companies are definitely overdone. The German economic growth has been solid and gives support to the stock market, i think the majority of analysts will be revising their 2015-16 earnings forecasts higher during the next six months.
We have seen some mixed earnings reports today, however disappointing results from companies such as UPM-Kymmene have eclipsed some positive results, the broader stock market's recent uptrend remains intact, but we need to see a further improvement in company earnings for the trend to remain firmly in place in the coming weeks.
We have seen some mixed earnings reports today, however disappointing results from companies such as UPM-Kymmene have eclipsed some positive results, the broader stocks market's recent uptrend remains intact, but we need to see a further improvement in company earnings for the trend to remain firmly in place in the coming weeks.
Industrial metals prices have probably seen the bottom. They have been in a phase of stabilisation over the last few weeks. We assume that the downside pressure on basic resources shares has come to an end for now, we like miners from a tactical point of view as margins are recovering swiftly and valuations look relatively attractive.
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