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OFFON

Patrick
Rejaunier

Senior Analyst
By the same author
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Some enthusiasm despite the looming Brexit deadline

02/19/2019 | 10:36am EST
Some enthusiasm despite the looming Brexit deadline On the stock market, nothing is certain, but as significant deadlines such as Brexit and the end of the truce on the Sino-American saga approach, it must be said that 2019 performances are shining brightly. The amplifications of purchasing initiatives are gradually creating an upward trend. The last weekly surge confirms this, strongly improving our selections which show flattering scores. European stocks, eligible for the European portfolio, have gained 17% since the beginning of the year, while the other two portfolios, USA and Asia, have each risen 11%. A good dynamic that should still be observed on securities whose valuations show a clear difference with fundamentals. The end of the cycle, mentioned during the sharp index declines of 2018, seems to diverge from market participants'expectations. European Portfolio The European portfolio has performed flawlessly over the past week, with an increase of 4.4% and well ahead of the European indices, which have risen by only 2.5% on average. The main contributors to this outperformance are Ipsen and Siltronic. The French laboratory , which recently joined the selection, published very good figures. Net income increased by 42% to ?389 million, recording an operating margin of 29.7% for the year and the group is targeting 31% for the current financial year. As for the German semiconductor specialist, he is the subject of cheap purchases in a global climate of commercial easing. Trigano completes the podium and stands out once again for its volatility. The action of the motorhome designer is up 8.7%, while still keeping some assets in terms of valorisation. English stocks are also benefiting from the good momentum, despite the Brexit approach in "no deal" mode. In line with this, Fevertree is advancing by 6% and PageGroup by 4.5%.The Trigano action is progressing positively in its horizontal trend with a second support...


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