First Glances - Axa, Euronext, Natwest, Bank of Ireland, Alpha Bank; Love Actuary

研报英文原文证据摘录

First Glances - Axa, Euronext, Natwest, Bank of Ireland, Alpha Bank; Love Actuary

ralian

market providing corporate and institutional banking services. (bbg)

US & Asia wrap

SPX was up ¾ % from the European close to finish 1.75 higher on the day (7,437). The index opened higher, to consolidate over

the next 2 hours, to then rally for the rest of the day to close near to the intraday highs. L/S momentum snapped back +10% as

software vs semis -8.5%. Overall volumes tracked 2% above 30 dma as treasuries rallied with both USD and oil lower. Tech was

the best performing sector with Healthcare, communication services and staples the worst. JPM cash was considerably better to

buy with tech, industrials and financials leading the skew. Healthcare, materials and staples were better for sale. After the close

Amazon +9.5%, Apple -6.3% and Reddit -10.5%. The press looks at the apparent disarmament of Hamas, the clearing event in AI

stocks and China PMIs. Overnight USD has steadied, treasuries have remained well bid and commodities are down. Today in US

we have Chicago PMIs, ECIs and Michigan confidence survey. In Europe we have Eurozone CPI.

Asia markets are higher with the exception of HK. Tech is leading the way in Japan, Taiwan, Korea and China. Australia

materials are also strong. Our flow is better to buy, on strong volumes, with Taiwan, Japan and India leading the skew. HK, China

and ASEAN are better for sale. In the sectors we are buying tech, consumer discretionary, industrials and financials versus selling

staples and energy

Global Financials Research Links

• Société Générale - Model update post Q2.

• Prudential Plc - Lowering our forecasts for Chinese subsidiary and Hong Kong sales update.

• Love Actuary - #200 - Looking at how much has changed since our first issue.