We include in our Watchlist the ETF Lyxor AUT (Automotive Index Europe) with a fee of 0.3% and an AUM of approximately € 36 million. AUT increased by only 3% since the beginning of the year (against 5.8% for the Stoxx600). After a three-month correction started in May, the sector seems to be entering a rebound that remains to be confirmed.
• The sector has been shaken by numerous scandals, the latest of which is an alleged cartel between German manufacturers. However, the European automotive sector is very dynamic and returns to its pre-crisis level, offsetting a US market in consolidation while competition is ever stronger in China.
• The monthly chart shows that a rebound is forming on the level of EMA 13, while the oscillators are turning positive again. On the weekly chart, prices go back above the moving averages which still have to confirm an upward crossover in progress.
AUT : monthly data
AUT : weekly data
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We include in our Watchlist the ETF Lyxor AUT (Automotive Index Europe) with a fee of 0.3% and an AUM of approximately € 36 million. AUT increased by only 3% since the beginning of the year (against 5.8% for the Stoxx600). After a three-month correction started in May, the sector seems to be entering a rebound that remains to be confirmed.
• The sector has been shaken by numerous scandals, the latest of which is an alleged cartel between German manufacturers. However, the European automotive sector is very dynamic and returns to its pre-crisis level, offsetting a US market in consolidation while competition is ever stronger in China.
• The monthly chart shows that a rebound is forming on the level of EMA 13, while the oscillators are turning positive again. On the weekly chart, prices go back above the moving averages which still have to confirm an upward crossover in progress.
AUT : monthly data
AUT : weekly data