Gavekal Capital: Cracks in the Postitive Relative Performance of European Equities?

Friday, March 28, 2014

Cracks in the Postitive Relative Performance of European Equities?

A quick scan of our heatmap shows a slowing in 200-day relative performance over the last several weeks, led by equities in MSCI Germany and MSCI U.K.:

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On a sector basis, Consumer and Technology stocks have faltered the most, while Telecom and Utilities remain on a more positive trajectory:

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Though the Food, Beverages, & Tobacco industry group's performance has improved some in the last month or so, the entire Consumer Staples sector continues to underperform:

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