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Lower Volatility on Both Sides of the Atlantic, Europe Closes Higher

Aug 07, 2018

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European Markets

  • European buoyed by positive global sentiment and strong US earnings, shrugging off a decline in German industrial production and yesterday's weakness in German manufacturing orders
  • The Euro Stoxx 600 closed up +0.47%, the FTSE 100 advanced +0.71%, the DAX rose +0.4%, and the CAC 40 finished up +0.81%
  • Investor sentiment for European stocks finished trading positive with the advance/decline ratio for the Euro Stoxx 600 currently at 2.23x
  • Basic Resources (+1.83%), Oil & Gas (+1.53%), and Automobiles & Parts (+0.81%) stocks were the top performers in the Euro Stoxx 600 today
  • Technology (-0.36%), Retail (-0.28%), and Real Estate (-0.27%) stocks were the worst performers in the Euro Stoxx 600 today
  • 69 stocks in the Euro Stoxx 600 hit 4-week highs while 26 stocks closed at 4-week lows
  • 47 stocks in the Euro Stoxx 600 finished the trading session overbought while 19 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed little changed -0.84 points today to 12.63 after closing at 13.47 yesterday

What's Going onwith European Currencies?

  • EUR€ is currently up +0.329% against the USD$ to 1.1592
  • GBP£ is currently little changed against the USD$ at 1.2951
  • CHF is currently little changed against the USD$ at 1.0049

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 2 basis points to 0.409%
  • German 10-Year Bunds are lower with yields up 2 basis points to 0.409%
  • French 10-Year Government Bonds are lower with yields up 1.4 basis points to 0.729%
  • UK 10-Year GILTs are lower with yields up 2.1 basis points to 1.325%
  • Italian 10-Year Government Bonds are higher with yields down -3.6 basis points to 2.869%
  • Spanish 10-Year Government Bonds are higher with yields down -0.3 basis points to 1.395%

Stocks Trending in the News

  • Deutsche Post (DPW GR) reported ebit below consensus at 747mn euros while estimates were for 761.4mn.  Revenue, though, came ahead at 15.03bn euros; consensus was 14.7bn.
  • Linde (LIN GR) and Praxair (PX) may see requests for asset divestures in China according to a report by MLex.  This report comes as the companies are dealing with US anti-trust demands.
  • Pirelli (PIRC IM) delivered 1H18 revenue in line with expectations at 2.63bn.  Adjusted ebit came ahead at 473.3mn euros while estimates were for 452mn.  Prior full year guidance maintained.

Euro Stoxx 50 Movers

*Data in price return.

Outperformers Sector Price 1D % Chg Volume
Deutsche Post AG Industrials 30.67 3.79% 6,577,794
Eni SpA Energy 16.61 1.95% 11,302,249
TOTAL SA Energy 55.96 1.84% 4,165,539
Schneider Electric SE Industrials 69.4 1.76% 1,754,419
LVMH Moet Hennessy Louis Vuitton SE Consumer Discretionary 303.3 1.73% 413,439

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Underperformers Sector Price 1D % Chg Volume
Koninklijke Ahold Delhaize NV Consumer Staples 20.99 -3.38% 10,186,202
Fresenius SE & Co KGaA Health Care 69.26 -1.06% 1,444,318
Vivendi SA Consumer Discretionary 21.81 -0.64% 2,965,644
SAP SE Information Technology 99.39 -0.47% 1,826,797
ING Groep NV Financials 12.65 -0.17% 10,156,077

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