Banking Stocks Lead European Markets Lower to Close the Week
Aug 10, 2018
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European Markets
- Banking stocks lead European markets lower as European banks' exposure to an economic crisis in Turkey was a focus of investors
- The Euro Stoxx 600 closed down -1.07%, the FTSE 100 declined -0.97%, the DAX fell -1.99%, and the CAC 40 finished down -1.59%
- Investor sentiment for European stocks finished trading negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.15x
- Media (-0.06%), Health Care (-0.3%), and Travel & Leisure (-0.36%) stocks were the top performers in the Euro Stoxx 600 today
- Basic Resources (-1.92%), Banks (-1.91%), and Automobiles & Parts (-1.85%) stocks were the worst performers in the Euro Stoxx 600 today
- 87 stocks in the Euro Stoxx 600 hit 4-week highs while 41 stocks closed at 4-week lows
- 54 stocks in the Euro Stoxx 600 finished the trading session overbought while 13 stocks closed oversold according to the 16-day RSI Measure
What's Going on with European Currencies?
- EUR€ is currently down 1.119% against the USD$ to 1.1398
- GBP£ is currently down 0.6% against the USD$ to 1.2747
- CHF is currently down 0.179% against the USD$ to 1.0046
Highlights from the European Bond Market
- Generic Euro 10-Year Bonds are higher with yields down 5.8 basis points to 0.317%
- German 10-Year Bunds are higher with yields down 5.8 basis points to 0.317%
- French 10-Year Government Bonds are higher with yields down 4.2 basis points to 0.67%
- UK 10-Year GILTs are higher with yields down 5.4 basis points to 1.242%
- Italian 10-Year Government Bonds are lower with yields up 9.5 basis points to 2.993%
- Spanish 10-Year Government Bonds are lower with yields up 1.3 basis points to 1.407%
Stocks Trending in the News
Click name for Q-Factor rating and financial data
- BMW (BMW GY) was upgraded to equal weight at Morgan Stanley (MS) today, with the report noting the recent weakness in the stock opens a buying opportunity. A 5% dividend, record low valuations and the fact that known risks are priced in were all noted.
- Randgold Resources (RRS LN) closed down 2.9% after reporting 2Q results below expectations yesterday. EPS fell 40% to 54 cents on lower gold production, consensus was for 64.
- Unicredit (UCG IM) was briefly halted today as banking stocks in general continued to fall. Unicredit has operations in Turkey and as recently as 4 months ago injected capital into those operations. Shares closed over 6% down.
*Data in price return. Source: Stockdio
Euro Stoxx 50 Movers
*Data in price return. In local currency.
| Outperformers |
Sector |
Price |
1D% CHG |
Volume |
| Sanofi |
Health Care |
74.11 |
0.75% |
1,527,259.00 |
| Industria de Diseno Textil SA |
Consumer Discretionary |
27.98 |
0.11% |
1,600,743.00 |
| CRH PLC |
Materials |
28.2 |
-0.25% |
1,379,178.00 |
| Iberdrola SA |
Utilities |
6.522 |
-0.43% |
18,107,328.00 |
| Munich Re |
Financials |
182.05 |
-0.79% |
774,473.00 |
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 |
-5.16% |
33,954,562.00 |
| ING Groep NV |
Financials |
12.124 |
-4.31% |
33,913,031.00 |
| Deutsche Bank AG |
Financials |
10.286 |
-4.06% |
10,834,668.00 |
| Intesa Sanpaolo SpA |
Financials |
2.298 |
-3.65% |
167,747,835.00 |
| Daimler AG |
Consumer Discretionary |
57.2 |
-3.12% |
4,484,731.00 |
On Mobile/Tablet scroll to the right. Source: S&P Capital IQ