Philippe Gijsels

Weaker earnings are starting to become a problem, companies that disappoint are being punished disproportionately while those that surprise on the positive side shoot up, indicating that markets are nervous and have little patience with underperformance.

Philippe Gijsels

The signal that the Bank of Japan gives reminds us that central banks will continue to play their role of fighting deflation, these actions typically drive up risky assets.

Philippe Gijsels

More deals are likely to come as companies look for synergies and cost efficiencies. This is an additional bonus for a relatively defensive sector in the current market environment.

Philippe Gijsels

But it's good for the profitability of European companies because the United States is an important market for Europe and a weaker euro against the dollar would further help exports. The Fed statement prompts people to believe that the U.S. economy is in a good shape.

Philippe Gijsels

Too strong jobs numbers will spark rate hike fears and hit equities, while a weak figure will spook investors as they will doubt the strength of the economy. So either way, profit taking looks likely.

Philippe Gijsels