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Solid Bank Results Help Europe Close Week on a Positive Note

Aug 03, 2018

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European Markets

  • The Euro Stoxx 600 closed up +0.65%, the FTSE 100 advanced +1.1%, the DAX rose +0.55%, and the CAC 40 finished up +0.33%
  • Investor sentiment for European stocks finished trading positive with the advance/decline ratio for the Euro Stoxx 600 currently at 2.9x
  • Basic Resources (+2.01%), Telecommunications (+1.22%), and Real Estate (+1.11%) stocks were the top performers in the Euro Stoxx 600 today
  • Chemicals (+0.05%), Travel & Leisure (+0.16%), and Oil & Gas (+0.2%) stocks were the worst performers in the Euro Stoxx 600 today
  • 44 stocks in the Euro Stoxx 600 hit 4-week highs while 107 stocks closed at 4-week lows
  • 42 stocks in the Euro Stoxx 600 finished the trading session overbought while 30 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed  down -1.11 points today to 13.4 after closing at 14.51 yesterday

What's Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1593
  • GBP£ is currently little changed against the USD$ at 1.302
  • CHF is currently up +0.259% against the USD$ to 1.0073

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -5.2 basis points to 0.408%
  • German 10-Year Bunds are higher with yields down -5.2 basis points to 0.408%
  • French 10-Year Government Bonds are higher with yields down -4.2 basis points to 0.74%
  • UK 10-Year GILTs are higher with yields down -4.8 basis points to 1.329%
  • Italian 10-Year Government Bonds are lower with yields up 1.4 basis points to 2.927%
  • Spanish 10-Year Government Bonds are higher with yields down -3.5 basis points to 1.422%

Stocks Trending in the News

  • Credit Agricole (ACA FP) reported a 17% jump in financing revenue together with stellar net income of 1.44bn euros, well above the 1.02bn estimate.  Credit Agricole saw strength in both French retail and investment banking
  • Allianz (ALV GR) posted strong 2Q including improving profitability at both the Pimco and Allianz Global Investment units, where, together, they delivered an 11.6% improvement in operating earnings.  Operating results of 3bn euros beat 2.89bn consensus.
  • Siemens (SIE GR) was downgraded to hold from buy at LBBW in the wake of the company's restruturing announcment that came with 2Q results.

Data in Price Return; Source: Stockdio

Euro Stoxx 50

Outperformers Sector Price 1D % Chg Volume
adidas AG Consumer Discretionary 189.6 2.51% 741,277
Fresenius SE & Co KGaA Health Care 69.56 1.99% 1,882,098
Deutsche Telekom AG Telecommunication Services 14.235 1.50% 11,703,112
Schneider Electric SE Industrials 68.34 1.45% 1,754,014
Bayerische Motoren Werke AG Consumer Discretionary 82.34 1.43% 1,932,126

On Mobile/Tablet scroll to the right.  Source: Stockdio

Underperformers Sector Price 1D % Chg Volume
Siemens AG Industrials 112.14 -1.80% 3,244,488
Koninklijke Ahold Delhaize NV Consumer Staples 21.64 -1.19% 4,961,157
Air Liquide SA Materials 108.15 -0.78% 704,663
Sanofi Health Care 74.1 -0.54% 2,204,770
BNP Paribas SA Financials 54.42 -0.37% 3,551,576

On Mobile/Tablet scroll to the right.  Source: Stockdio