Markets were mixed on Thursday.
After the US market plunge on Wednesday, the Nikkei 225 fell 1.3 percent and the STOXX Europe 600 fell 0.5 percent.
However, later on Thursday, the S&P 500 rose 0.4 percent.
JP Morgan said in a note that “equities could see further weakness in the short-term” but “fundamentals remain supportive”.
Meanwhile, a CNBC report suggests that a rotation to European stocks makes sense.
“With the U.S. and Brazil beset by political turmoil and Chinese stocks on the downswing, the big trade of 2017 increasingly looks like a rotation to Europe,” the report said.
“The fundamental backdrop continues to support a positive stance on the European market,” said Ronan Carr, European equity strategist at Bank of America Merrill Lynch.
No comments:
Post a Comment