The vintage wine was marked by the increase generalized by markets actions, which exceeded all the expectations, and the taste found by the investors for the risk.
At the time of the farewells in 2017, the investors can push one "phew" of relief. If he was sowed with a number of pitfalls, to begin with a political schedule very loaded(diary very loaded,schedule very in charge of) in Europe, the vintage wine will remain nevertheless marked by a very clear return of the appetite of the investors for the risk. An increase generalized by markets actions going beyond the expectations, in particular for the American indications shows it, which flew from record in record. So the Dow Jones index progressed of 25,08 % over the year, exceeding in December, for the first time of its history, 24 000 points, carried by the fiscal reform of Donald Trump. The indication Nasdaq of technology stocks did better. Doped by the dynamism of the GAFA (Google, Apple, Facebook, Amazon), he progressed of 28,24 %, approaching 7 000 points.
In spite of a delayed ignition at the beginning of the year, it is the Japanese actions which supplied the most beautiful surprise: the Japanese place raised itself on unpublished levels for twenty five years, thanks to the shape found by his companies and by Wall Street. The Nikkei average appreciated of 19,10 %.
On the other hand, the hopes of a catching up of the European actions were disappointed, with only 6,49 % of increase for the Euro Stoxx 50. " An explanatory factor of this slightest performance of Europe is the less important proportion of technology stocks, which particularly contributed to the performance of the American indications, explains Warin Buntrock, assistant director of the management of BFT Investment Managers. Another element was the evolution of the exchanges. "