Once again, U.S. stocks outperformed European stocks, strong earnings reports boosted optimism on the other side of Atlantic while investors’ appetite on the old continent was still affected by the Turkish Lira crisis. They continued to fret about the bank sector exposure to the Turkish economy, hence the new outflow in financial stocks though the Turkish currency seemed to regain some semblance of stability. Energy stocks were also last week’s losers after the American Petroleum Institute disclosed that U.S. crude stocks had risen by 3.7 million barrels in the week to Aug. 10, to 410.8 million barrels. It is also worth noting that Brazilian stocks were under pressure due to presidential race jitters. By contrast, investment sentiment was improving in Asia (despite Tencent’s disappointing revenue and profit for its second quarter), especially in Japan backed by receding worries about U.S.-China trade tension following news on prospects of comprehensive talks between the two superpowers.
Find the full report here : https://www.trackinsight.com/weekly-flow-report/2018-08-17/global
