Could China's stimulus help French stocks?
STOXX 600 up 0.4%, record high
Luxury, autos, chemicals lead
Moncler surges on LVMH deal
Wall St futures lower
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
COULD CHINA'S STIMULUS HELP FRENCH STOCKS?
French stocks have been a relative underperformer in recent months but China's stimulus could be a boon for the country's blue-chip index, according to strategists at BCA Research.
The CAC 40 .FCHI is up just 2.6% this year, compared to a near 10% gain for the pan-European STOXX 600 .STOXX - which hit a record on Friday - and a 15% gain for Germany's DAX .GDAXI.
The overall performance since Macron announced a snap election in June paints a similarly gloomy picture. The CAC 40 is down almost 3%, versus a 1% gain for the STOXX 600 and a near 5% gain for the DAX.
"French stocks remain depressed relative to Euro Area benchmarks," writes Mathieu Savary, chief European strategist at BCA Research.
"Due to its heavy exposure to consumer discretionary names that would benefit if Chinese consumers responded to fiscal stimulus, the CAC 40 is attractive relative to the EURO STOXX 50," Savary adds.
Around 31% of the index is made up of consumer cyclicals, according to LSEG data, including luxury giants LVMH and Hermes, and carmakers Renault and Stellantis.
BCA says it has adopted a tactical hedge today by going overweight French stocks within European benchmarks.
(Samuel Indyk)
*****
FRIDAY'S OTHER LIVE MARKETS POSTS:
JAPAN'S ISHIBA VICTORY CLEARS WAY FOR BOJ RATE HIKES CLICK HERE
CHINA STIMULUS COULD BE 'GAME CHANGER' FOR RISK ASSETS - UBS CLICK HERE
STOXX 600 HITS RECORD HIGH CLICK HERE
EUROPEAN FUTURES STEADY CLICK HERE
BEIJING PULLS OUT THE POLICY STOPS CLICK HERE
Chinese stocks roar on stimulus-fueled optimism https://reut.rs/3Bx3wx6
European shares edge up, Wall St futures lower https://reut.rs/47JWFN5
French stocks underperform since Macron called election https://reut.rs/3BiI0fN
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
