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Europe Closes Mixed as Trade Tensions Return to the Forefront

Aug 08, 2018

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European Markets

  • European shares drifted lower from earlier levels after both the US and China teed up even more tariffs for the near future
  • The Euro Stoxx 600 closed down -0.12%, the FTSE 100 advanced +0.72%, the DAX rose +0.17%, and the CAC 40 finished down -0.06%
  • Investor sentiment for European stocks finished trading positive with the advance/decline ratio for the Euro Stoxx 600 currently at 1.47x
  • Oil & Gas (+0.15%), Automobiles & Parts (+0.57%), and Telecommunications (-0.29%) stocks were the top performers in the Euro Stoxx 600 today
  • Basic Resources (-0.42%), Chemicals (+0.2%), and Banks (-0.18%) stocks were the worst performers in the Euro Stoxx 600 today
  • 95 stocks in the Euro Stoxx 600 hit 4-week highs while 22 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

What's Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.159
  • GBP£ is currently down -0.572% against the USD$ to 1.2865
  • CHF is currently little changed against the USD$ at 1.004

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down 0.2 basis points to 0.407%
  • German 10-Year Bunds are higher with yields down 0.2 basis points to 0.407%
  • French 10-Year Government Bonds are lower with yields up 0.1 basis points to 0.73%
  • UK 10-Year GILTs are higher with yields down 0.8 basis points to 1.317%
  • Italian 10-Year Government Bonds are higher with yields down 3.7 basis points to 2.832%
  • Spanish 10-Year Government Bonds are lower with yields up 0.3 basis points to 1.398%

Stocks Trending in the News

  • ABN Amro (ABN NA) CEO indicated the bank is getting closer to raising dividends after strong 2Q results that include cuts to its investment bank.  Shares closed up more than 3%
  • Airbus (AIR FP) set a record today for the longest flight within the Earth's atmosphere at 25 days with its Zephyr spy drone.  It was solar powered and sat motionless at 70,000 feet for most of its flight
  • Ping An Insurance (2318 HK) is considering a bid for Prudential PLC's (PRU LN) Asian unit according to press reports though today its CEO said they are not interested in selling those assets

*Data in Total Return; Source: Stockdio

Euro Stoxx 50 Movers

*Data in price return.

In local currency.

Outperformers Sector Price 1D% CHG Volume
Deutsche Post AG Industrials 31.1 1.34 2727848
SAP SE Information Technology 100.46 1.14 734376
adidas AG Consumer Discretionary 191.95 1.03 287220
Nokia OYJ Information Technology 4.696 1.01 3781090
Volkswagen AG Consumer Discretionary 148.14 0.71 324190

 On Mobile/Tablet scroll to the right.  Source: S&P Capital IQ

Underperformers Sector Price 1D% CHG Volume
Munich Re Financials 182.65 -2.85 869350
Koninklijke Ahold Delhaize NV Consumer Staples 20.4 -2.57 5378146
E.ON SE Utilities 9.413 -2.31 10036808
Fresenius SE & Co KGaA Health Care 68.2 -1.59 504561
Orange SA Telecommunication Services 14.505 -1.12 1372265

On Mobile/Tablet scroll to the right.  Source: S&P Capital IQ