Euro Stoxx 50 : Steady upward trend

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03/08/2019 | 04:39 pm
The major European index continues to show a steady upward trend. Recent statements by central banks, in foresight mode, highlight their intentions to thwart any attempt at a recession. The financial sphere generates a positive flow of liquidity to offset concerns about a decline in global growth.


The 2019 performance of the EuroStoxx 50 was 11%, with 5.2% over the last sliding month. The main contributors to this ultimate graphic boom are French. Vivendi has had an excellent year, with a 15% increase following its intention to sell part of UMG. Taking advantage of the sector's momentum, Airbus is in second place in the monthly sequence, recording a 12% gain. Kering (10%) always well placed, thanks to his qualitative results, completes the podium.

Technically, in daily data, prices remain well anchored close to the 3360-point resistance. Prices have been extended by departing from moving averages. Consequently, the 20-day benchmark is more than 2% of current levels, which militates for the implementation in the near future of a consolidation phase at best horizontal, at worst with depth, towards the 3150-point zone, a converging range of 50 and 100 moving averages.
 

Patrick Rejaunier
MarketScreener.com 2019
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