sentix ASR Essentials 23-2017
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11 June 2017
Posted in
sentix Weekly
Energy sector pessimism close to historic extremes
Survey questions on investors’ views on the medium-term outlook for European sectors reveal fading optimism on cyclical sectors such as Autos and Chemicals, alongside a receding tide of optimism on Technology from highly elevated sentiment levels. In this respect, the survey chimes with last week’s late sell-off in US technology stocks. At the other end of the sentiment spectrum, the gradual improvement in sentiment towards Telecoms continues, but pessimism on Energy is again close to historic extremes. Energy remains deeply unloved, though investors less negative view on the medium-term outlook for Crude Oil may provide a welcome beacon amidst the prevailing sentiment gloom. See page 2 for charts.
