EUROPEAN OUTLOOK
07.38
While the European indices disappointed me during the final week of 2012, my bullish case has since been validated once more. The DAX and FTSE stormed ahead yesterday thanks to relief over the latest fudged deal over the US budget. On Wall Street, a good first week to the new trading year has traditionally been a harbinger of good – or at least positive – returns for the year as a whole. I haven’t looked into whether this works over here, but I should imagine that it does apply too, given the correlation between world equity markets. Give me a bit of a pullback from the currently overstretched intraday levels, and I’ll be trying to buy once more.
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