Strategists at Credit Suisse continue to view the rebound in European equity markets as a corrective move higher but there are bright spots in the European space that are bucking the trend that show a much more constructive picture.
Key quotes
“Denmark has been our favourite country, with the market surging over 30% higher from its March low and successful defence of long-term trend support, outperforming sharply in the process.”
“The KFX faces a key test of resistance at 1196/1204 – the 78.6% retracement of the Q1 collapse and March high – but if this can be cleared this would open the door to 1243 next, potentially the 1276 high.”
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