1. Chinese listed stocks remain out-of-favour in terms of valuation differentials with Hong Kong listed equivalents (link here).
2. Emerging markets are approaching big levels (despite the above implied drag from Chinese shares). Of course the below still represents a big valuation underperformance against many developed market indices...
3. Stocks that impressed - in Asia AIA, in Europe Danone and in the UK RBS and Vodafone
4. Stocks that I await levels on - in Europe LVMH, in the US Amazon, Moody's, Stanley Black & Decker and Visa
5. Stocks that disappointed - in Europe Statoil
(notes on all the above noted stocks can be found on the website)
Have a good weekend...the next Financial Orbit wrap will appear on Monday