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- A slew of reports at month end provided mixed news for the Eurozone. GDP growth beat expectations at 0.6% and unemployment fell to the lowest since 2001, but April’s inflation figure came in at a resolutely negative -0.2%.
- The S&P Europe 350 gained 2.09% in April. Most sectors gained but the real drivers were Financials, Materials and Energy.
- Value investors have been taking a beating across the globe recently, yet a change in fortunes occurred this month: the S&P Europe BMI Value tops our equity strategy charts. With all the various reversals in the key equity drivers, Momentum duly suffered; its 1.3% gain made it one of the poorest performers.
