Equity Review: Volatility and no direction...

It was a volatile session last week, with a mixed performance from countries and sectors. Greece led the way with a 7.8% gain on hopes that country would be able to form a government. The focus was then turned to the FED and FOMC meeting, which left investors wanting more than Operation Twist. Important numbers coming up this week are US New Home Sales, Consumer Confidence, Durable Goods orders and Initial Jobless Claims.

The result of the Spanish stress test came out “in-line” with what is financially and political manageable right now. Individual markets were driven by company or industry specific news rather than an overall direction, indicating that investors still are very cautious entering the summer period, which will bring lower liquidity.

Oil prices continuing their decline, and oil heavy markets such as Norway and Canada were dragged down. The good news is that lower prices should make life easier for oil customers and help the global economy recover.

Nike is reporting this week, along with RIM, which should make for an interesting headline.