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Turkey Fears Weigh on European Markets

Aug 10, 2018

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*Data in Total Return; Source: Stockdio

European Markets

  • Fears of contagion from an impendingthe Turkish financial crisis weighed on European markets this morning, particulary regarding banking sector exposures
  • The Turkish Lira is down 7.19% against the USD$ to TRY5.9498; for the week, the Lira has weakened 17.69%
  • The Euro Stoxx 600 is currently down 0.89%, the FTSE 100 has declined 0.65%, the DAX has fallen 1.69%, and the CAC 40 is lower by 1.23%
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.13x
  • Oil & Gas (-0.83%), Automobiles & Parts (-1.78%), and Telecommunications (-1.26%) stocks are the top performers in the Euro Stoxx 600 today
  • Basic Resources (-1.78%), Chemicals (-1.34%), and Banks (-1.65%) stocks are the worst performers in the Euro Stoxx 600 today
  • 87 stocks in the Euro Stoxx 600 are at 4-week highs while 41 stocks are at 4-week lows
  • 54 stocks in the Euro Stoxx 600 are overbought while 13 stocks are oversold according to the 16-day RSI Measure

What is Going on with European Currencies?

  • EUR€ is currently down -0.529% against the USD$ to 1.1466
  • GBP£ is currently down -0.351% against the USD$ to 1.2779
  • CHF is currently little changed against the USD$ at 1.006

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -3.5 basis points to 0.34%
  • German 10-Year Bunds are higher with yields down -3.5 basis points to 0.34%
  • French 10-Year Government Bonds are higher with yields down -2.9 basis points to 0.683%
  • UK 10-Year GILTs are higher with yields down -3.4 basis points to 1.262%
  • Italian 10-Year Government Bonds are lower with yields up 3.8 basis points to 2.936%
  • Spanish 10-Year Government Bonds are lower with yields up 0.7 basis points to 1.401%

Euro Stoxx 50 Movers

*Data in price return.  In local currency.

Outperformers Sector Price 1D% CHG Volume
Sanofi Health Care 74.11 1.22% 1,527,259.00
Industria de Diseno Textil SA Consumer Discretionary 27.97 0.00% 1,600,256.00
Iberdrola SA Utilities 6.53 -0.09% 6,369,655.00
Koninklijke Philips NV Health Care 37.975 -0.30% 946,020.00
Unilever NV Consumer Staples 49.37 -0.53% 1,699,833.00

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

Underperformers Sector Price 1D% CHG Volume
Banco Bilbao Vizcaya Argentaria SA Financials 5.64 -4.51% 33,954,562.00
BNP Paribas SA Financials 52.02 -3.84% 3,322,120.00
Deutsche Bank AG Financials 10.286 -3.84% 10,834,668.00
ING Groep NV Financials 12.14 -3.65% 13,035,733.00
Intesa Sanpaolo SpA Financials 2.3115 -2.85% 69,921,016.00

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