Last week, the stock market sentiment was once again bullish. In Europe, the German DAX increased by almost 2%, the British FTSE250 rose by 1.6% and the French CAC40 soared by 0.4%. This was not surprising – the market learnt another portion of robust macroeconomic data from the Eurozone. The values of the confidence indices were high, the GDP growth rate for the third quarter exceeded market projection (2.5% y/y vs 2.4% y/y) and the September’s unemployment rate stood at 8.9% vs 9% expected. Wall Street ended the last week in positive territory as well. The NASDAQ went up by 0.9%, the DJI took off by 0.5% and the S&P500 rose by 0.3%.

Weekly comment MM Prime TFI  - October 30, 2017

Weekly comment MM Prime TFI  - October 23, 2017

A global bull market was going on and many major stock market indices reached their historical peaks last week. During the last five trading days, the DJI increased by 0.4%, while the S&P500 and the NASDAQ rose by 0.2%. In Europe, the British FTSE250 grew by 0.5%, the German DAX soared by 0.3%, whereas the French CAC40 declined by 0.2%. The past week was rather smooth. The economic calendar was not rich. Moreover, a diplomatic solution of the Catalonia’s government concerning the independence of the region did not lead to the increase of the political risk. Investors learnt the minutes from the last meeting of the FOMC last week. The document did not contain any surprising news. Nevertheless, the council was divided to the path of inflation projections. This may be an important aspect influencing further monetary policy of the Fed. It should be added that the September’s reading of the CPI stood at 2.2% y/y.

Tygodniowy komentarz MM Prime TFI S.A. - 2 października 2017 r.