Market Flash - ENG

Kairos Partners SGR

The podcast for those who want to stay informed about financial markets, presented by Alberto Tocchio, Head of Global Equity and Thematics at Kairos Partners SGR. read less
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Market Flash of February 4, 2025
3d ago
Market Flash of February 4, 2025
In this episode:After months of passive outflows in the US, investors are rediscovering the European market. The Eurostoxx50 has had one of the best starts to the year in history, with broad-based gains. Macro and systematic funds, previously short on Europe, are now moderately overweight, while single-stock volatility is creating opportunities for stock pickers.The announcement of DeepSeek in China triggered a sell-off in the AI sector, with Nvidia losing $600 billion in a single day. The market later reacted more rationally, recognizing technological progress as positive and reaffirming the strong dominance of the US. The event highlighted the importance of diversification in AI investments.Earnings season is showing resilient numbers, especially in Europe, where 55% of companies have beaten expectations. The ECB has cut interest rates, while Powell remains cautious, awaiting Trump’s policy decisions. The market is pricing in at least three more rate cuts by year-end, as inflation cools down.The start of the year confirms renewed interest in Europe, with growth prospects supported by reforms and investments. The environment remains volatile, but active investors may find opportunities by balancing risk and reward in an ever-evolving market.

Episodes

Market Flash of February 4, 2025
3d ago
Market Flash of February 4, 2025
In this episode:After months of passive outflows in the US, investors are rediscovering the European market. The Eurostoxx50 has had one of the best starts to the year in history, with broad-based gains. Macro and systematic funds, previously short on Europe, are now moderately overweight, while single-stock volatility is creating opportunities for stock pickers.The announcement of DeepSeek in China triggered a sell-off in the AI sector, with Nvidia losing $600 billion in a single day. The market later reacted more rationally, recognizing technological progress as positive and reaffirming the strong dominance of the US. The event highlighted the importance of diversification in AI investments.Earnings season is showing resilient numbers, especially in Europe, where 55% of companies have beaten expectations. The ECB has cut interest rates, while Powell remains cautious, awaiting Trump’s policy decisions. The market is pricing in at least three more rate cuts by year-end, as inflation cools down.The start of the year confirms renewed interest in Europe, with growth prospects supported by reforms and investments. The environment remains volatile, but active investors may find opportunities by balancing risk and reward in an ever-evolving market.
Market Flash of January 21, 2025
Jan 21 2025
Market Flash of January 21, 2025
In this episode:  Europe breaks out of a prolonged sideways phase, with the Eurostoxx 50 nearing historic highs and outperforming the S&P 500, marking one of the strongest starts in the past 20 years. The luxury sector is driving the rally, supported by high levels of short positions.  In the United States, the "Mag7" are now weighing down the indices, with Apple and Nvidia experiencing significant declines. However, signs of change are emerging, with the S&P 500 equal-weight index outperforming and greater market participation being observed.  Markets remain focused on inflation and interest rates. The decline in yields and early positive earnings data provide encouraging signals, but the environment remains challenging due to high public debt and pressure from rising commodity prices.  With the start of Trump’s new presidential term in the United States and evolving geopolitical dialogues, 2025 is shaping up to be a year of significant change. It will be essential to adopt a selective and dynamic approach, seizing opportunities in undervalued areas like Europe while maintaining caution in the face of volatility.
Market Flash of January 8, 2025
Jan 8 2025
Market Flash of January 8, 2025
In this episode:2024 concluded with impressive performances for the S&P 500, which gained over +60% in two years. However, leadership remained concentrated, and the equal-weight market showed significant disparity.ETFs dominated the landscape, supporting mega-cap stocks in key sectors such as Artificial Intelligence, energy transition, and demographics. Meanwhile, the dollar gained 6% against the euro, and Bitcoin attracted significant volumes, reflecting growing diversification.2025 may bring greater convergence among global markets, but volatility is set to increase. Growth will be moderate, in a context shaped by Trumponomics policies, geopolitical uncertainties, and inflation-related challenges.The new year will require a more dynamic investment approach, with particular attention to opportunities outside the United States. Factors such as reforms in Europe and stimulus measures in China could enhance risk-reward ratios. Investors will need to balance risks and opportunities in an evolving landscape.