Europe Holds Firmer While Nasdaq Weakness Weighs
The latest weekly dashboard shows a clear split across the monitored markets. European portfolios were generally more constructive, led by Germany40, while US technology exposure showed weaker relative behavior, especially in the Nasdaq100 portfolio.
Germany40 delivered the strongest result of the week, gaining 5.27% against a benchmark advance of 4.13%. Europe50 also remained positive at 1.52%, although it lagged its benchmark at 2.18%. Italy40 rose 1.31%, below the benchmark gain of 3.41%.
The most difficult reading came from Nasdaq100, where the portfolio declined 9.87% while the benchmark rose 0.86%. The portfolio added RKLB and removed WBD, with the hedge unchanged at 12%. USA100 also underperformed, falling 3.42% versus a benchmark gain of 2.17%, while hedge protection increased slightly from 7% to 8%.
UK100 saw the most visible rotation, with AAL.L, STAN.L and VOD.L entering the selection while RIO.L, HSBA.L and BP.L exited. The hedge increased from 12% to 14%, reflecting a more cautious stance after a slightly negative portfolio week.
Australia50 has been added to the monitored set using the July 3 processing result. The portfolio gained 1.26% versus a benchmark gain of 0.43%, with WOW.AX entering and S32.AX leaving the selection.
Compact Weekly Dashboard
| Market | Current Tickers | Rotation | Hedge | Portfolio | Benchmark |
|---|---|---|---|---|---|
| USA100 | MU, CAT, FDX, GOOGL, SLB | No change | 8% (prev. 7%) | -3.42% | 2.17% |
| Nasdaq100 | MU, TER, NBIS, MRVL, RKLB | In: RKLB Out: WBD |
12% (prev. 12%) | -9.87% | 0.86% |
| Europe50 | NOKIA.HE, ASML.AS, IFX.DE, ENI.MI, ENGI.PA | No change | 9% (prev. 9%) | 1.52% | 2.18% |
| Germany40 | ENR.DE, IFX.DE, RWE.DE, BAYN.DE, DHL.DE | No change | 12% (prev. n/a) | 5.27% | 4.13% |
| Italy40 | SPM.MI, PRY.MI, STMMI.MI, TIT.MI, SRG.MI | No change | 12% (prev. n/a) | 1.31% | 3.41% |
| UK100 | GLEN.L, AAL.L, STAN.L, VOD.L, GSK.L | In: AAL.L, STAN.L, VOD.L Out: RIO.L, HSBA.L, BP.L |
14% (prev. 12%) | -0.18% | 3.06% |
| Australia50 | RIO.AX, EVN.AX, LYC.AX, WOW.AX, WDS.AX | In: WOW.AX Out: S32.AX |
21% (prev. n/a) | 1.26% | 0.43% |
Overall, the week confirms stronger relative behavior in Europe, especially Germany, while Nasdaq100 remains the main area of portfolio underperformance. Australia50 is now included in the monitored markets from the July 3 processing result.
Portfolio Message
The current setup argues for selective exposure and continued risk control. Portfolio rotation remains important where leadership is changing, while benchmark-relative monitoring is essential after the sharp Nasdaq100 gap.
This weekly update is research material only and is not personalized financial advice.
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