EURO STOXX 50 : Driven by a political lull in Europe
The euro zone's major index is returning to the brink of resistance. Since the low point of 15 August, the EuroStoxx 50 has advanced by 5.1%, recently driven by a political calm in Europe (Brexit Italy), thus accentuating its 2019 course to more than 15%.
There are many contributors to the resumption of prices, including Italian companies that are recovering. Enel gained 12% over the same reference period, as did the Intesa San Paolo bank (+10%). As for other continental stocks, LOréal is back to its historical highs (+10%) followed by the Spanish Inditex, at the foot of the podium with 9% gains.
Graphically, in daily data, prices show recovery intentions characterized by the recent overrun of 3442 points. A fence above this level would engage the index in an extension movement towards the recent highs at 3544 points. It would take a decline below 3380 points to wipe out hopes of reaching the graphical peak.
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