Happy Thanksgiving all! A bit of a pause for breath today with lower volumes across the board (down -30% vs the last 30 days). European indices are all trading between -0.5%/+0.1% but still nicely above their respective key levels. Spain the main highlight for us this week. The IBEX made a new 8m high yesterday and despite underperforming today, it’s been above 8000 (key support) pretty much all week (8114 last). Sectors similar vs yesterday with defensives outperforming cyclicals for the second day in a row. Growth outperforming Value again today (STGP +0.4%, STVP -0.7%).
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