sentix Survey Essentials (English)

Investors on the Defensive

The latest sentix survey indicates that investor sentiment towards equity markets remains undermined by recent reversals. At a market level, survey readings based on investors' opinion on the medium-term outlook have yet to reverse their recent declines. At a sector level, monthly questions on participants' views on European sectors in a relative context also reveal a further swing away from cyclical sectors such as Autos, Construction and Industrials, towards defensives such as Food & Beverage and Healthcare (see Charts 2 & 3, page 2). Investors appear to have firmly moved onto a defensive footing in terms of their sector preferences.