In today’s briefing:
- Supports Starting to Break; Upgrading Non-U.S. Small-Caps to Overweight; Transports/Comm/HC Buys
- Ecoeye IPO Preview
Supports Starting to Break; Upgrading Non-U.S. Small-Caps to Overweight; Transports/Comm/HC Buys
- Key support levels on global equity indexes (EURO STOXX 50, $ACWX, $EFA) are beginning to break as the U.S. dollar (DXY) and 10-year Treasury yield break above $105.70 and 4.35%.
- This significantly increases the odds of a break below major $92-$93 support on $ACWI, and we would shift to a more cautious outlook only on a break below $92.
- We shifted to overweight value within non-U.S. equities last week, and we are now also shifting to overweight small-caps within non-U.S. equities as well. Buys in Transportation, Communications, and HealthCare
Ecoeye IPO Preview
- Ecoeye is getting ready to complete its IPO on the KOSDAQ exchange in November. Ecoeye specializes in carbon emission rights related businesses.
- The IPO price range is from 28,500 won to 34,800 won per share. The IPO offering amount is from 59.3 billion won to 72.1 billion won.
- Established in 2005, Ecoeye makes money through carbon emissions trading and brokerage, carbon reduction business, carbon emissions trading system, and operation consulting.
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