Weekly comment MM Prime TFI - July 11, 2016
Last week the European stock markets were dominated by bears. During the whole week, French CAC40 declined by 2%, British FTSE250 decreased by 1.8% and German DAX deteriorated by 1.5%. Brexit continued to generate the uncertainty. Moreover, it had adversely impact on the market sentiment. To add insult to injury, the new burden for the stock markets was information on the problems of the European banks (especially Italian banks) and difficulties of the several British investment funds. Investors learnt the latest economic data as well. In the Eurozone, the dynamic of the retail sales stood at 1.6% y/y vs 1.8% expected.