European markets conclude a strong week .. positive future expectations

European markets ended their week on strong gains, amid optimism from investors, and the continued positive performance of the main sectors.

This upscale momentum is supported by the stability of economic data, and the decline in concerns about inflation, which strengthened investor confidence in the market.

During the week, the Portuguese PSI indicators, the French CAC 40, and the Spanish IBEX 35 topped the list of winners, while other indicators showed fluctuation in performance with a tendency to ascend.

As the new week approaches, the markets are awaiting important economic data that may determine the course of the upcoming trading.

The weekly performance analysis of the most prominent emerging indicators

PSI

The Portuguese PSI index ended its week with exceptional performance, recording weekly gains at a rate of +2.3%, to close at 6,654.08 points, and the heights were mainly driven by the financial and retail services sectors, as the shares of major banks witnessed a positive performance amid expectations of the growth of their profits in the next quarter.

The index is expected to target 6,700 points as an upcoming resistance, while 6,600 points are seen as strong support.

CAC 40

The French CAC has maintained its positive momentum, up during the week by +1.5% to 8,178.54 points.

The French market benefited from the strong performance of the technology sector, as well as the recovery of the luxury commodity sector, which strengthened the morale of investors.

The index is expected to target the level of 8,250 points if the upscale momentum continues, while the level of 8,100 points is a basic support for maintaining the upward direction.

IBEX 35

The Spanish IBEX 35 index witnessed weekly gains by +1.2%, to close at 12,956.00 points, and this strong performance came thanks to the support of the banks of the banking sector and major industrial companies, as some economic data showed an improvement in industrial production.

Technically, the level of 13,000 resistance points is close, while 12,900 points are important support to maintain the upward trend.

RTSI

The Russian RTSI Index achieved slight weekly gains by 0.7%, ending at 1,111.00 points, and this performance came as a beneficiary of the stability of energy prices, and the return of some investment flows to major shares in the oil and gas sectors.

The index is expected to target the level of 1,130 points if the positive performance continues, while the level of 1,090 points remains an important support to monitor any possible corrections.

New week’s expectations

With European markets entering a new week, indicators are awaiting important economic data that may affect public trends, most notably:

Euro inflation data, which may determine the policy of the European Central Bank for the coming period, and the profits of the profits of major companies, especially in the technology and industry sectors, along with the developments of monetary policy, where investors monitor any statements about interest rates and economic trends.

The possibilities of continued ascending

If the positive investor morale continues, we may see a penetration of the resistance levels in the PSI, CAC 40 and IBEX 35, and the current support of the indicators remains strong.