2016 has so far proven to be a rough ride for European equities as we head towards the end of the first quarter of the year.
In the first three months of the year, investors continued to take risk off the table as global growth concerns continued to dampen the economic outlook.
We have seen large swings in the price of oil, currency wars and central banks stepping up their game to do their part in contributing towards improved growth.
But the responsibility cannot be placed on central bankers. At the G20 meeting, it was emphasised that governments’ need to do their part in the form of fiscal stimulus.
A lot of investors keep on hording cash, waiting to see light at the end of the tunnel before they participate in equities.
The Euro Stoxx 50 is down 8.5 per cent year-to-date. However, within the index itself there are stocks generated positive returns to shareholders. The top five performing stocks in the Euro Stoxx 50 so far this year are as follows:
Vinci SA (9.91 per cent up YTD, ticker DG FP EQUITY)
Vinci SA is a global player in concessions and construction with expertise in building, civil, hydraulic and electrical engineering, construction-related specialities, road materials production, as well as finance, management, operations and maintenance of public infrastructure such as motorways, airports, road and rail infrastructures, car parks, buildings or stadiums.
ASML Holdings NV (4.77 per cent up YTD, ticker ASML NA EQUITY)
ASML Holding N.V. develops, produces, and markets semiconductor manufacturing equipment, specifically machines for the production of chips through lithography. The Company services clients world wide.
Koninklijke Philips NV (3.86 per cent up YTD, PHIA NA EQUITY)
Koninklijke Philips N.V. manufactures medical systems; domestic appliances; consumer electronics; and lighting. The Company produces imaging, ultrasound and healthcare informatics equipment; shaving and beauty and health and wellness products; displays, and peripherals; and lamps and luminaries.
Schneider Electric SE (1.90 per cent up YTD, ticker UL NA EQUITY)
Schneider Electric SE manufactures power distribution and automation systems. The Company produces circuit breakers, remote installation management equipment, panelboards, programmable logic controllers, industrial control products, detectors, human-machine interfaces, and process controls. Schneider's products are sold various brands.
LVMH Moet Hennessy Louis Vuitton (1.59 per cent up YTD, ticker MC FP EQUITY)
LVMH Moet Hennessy Louis Vuitton SE is a diversified luxury goods group. The Company produces and sells champagne, cognac, perfumes, cosmetics, luggage, watches and jewelry.
Disclaimer: This article was issued by Kristian Camenzuli, Investment Manager at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri & Co. Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.