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Turkey Economic Crisis Fears Continue to Weigh on European Equities

Aug 13, 2018

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European Markets

  • Concerns regarding economic upheaveal in Turkey are dampening investor outlook, with European equities broadly declining today
  • The Euro Stoxx 600 is currently down -0.32%, the FTSE 100 has declined -0.41%, the DAX has fallen -0.38%, and the CAC 40 has risen +0.04%
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.38x
  • Technology (+0.56%), Oil & Gas (+0.43%), and Insurance (+0.33%) stocks are the top performers in the Euro Stoxx 600 today
  • Banks (-1.25%), Health Care (-1.13%), and Travel & Leisure (-0.58%) stocks are the worst performers in the Euro Stoxx 600 today
  • 33 stocks in the Euro Stoxx 600 are at 4-week highs while 83 stocks are at 4-week lows
  • 32 stocks in the Euro Stoxx 600 are overbought while 13 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is little changed this morning and is currently at 15.79 after closing at 15.11 yesterday

What is Going on With European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1402
  • GBP£ is currently little changed against the USD$ at 1.2764
  • CHF is currently little changed against the USD$ at 1.0057

Highlights from the European Bond Market

  • German 10-Year Bunds are higher with yields down -0.5 basis points to 0.308%
  • French 10-Year Government Bonds are lower with yields up 1.3 basis points to 0.683%
  • UK 10-Year GILTs are lower with yields up 0.6 basis points to 1.248%
  • Italian 10-Year Government Bonds are lower with yields up 8.7 basis points to 3.07%
  • Spanish 10-Year Government Bonds are lower with yields up 7.8 basis points to 1.48%

Euro Stoxx 50 Movers

In local currency.

Outperformers Sector Price 1D% CHG Volume
SAP SE Information Technology 100.64 2.00%          804,145.00
Munich Re Financials 185.2 1.62%          202,712.00
adidas AG Consumer Discretionary 208.8 1.51%          270,226.00
Fresenius SE & Co KGaA Health Care 65.44 1.08%          480,566.00
Allianz SE Financials 187.9 1.06%          526,603.00
Underperformers Sector Price 1D% CHG Volume
Bayer AG Health Care 81.85 -12.37%       9,906,050.00
Banco Bilbao Vizcaya Argentaria SA Financials 5.448 -3.79%    26,548,370.00
ING Groep NV Financials 11.774 -3.27%    14,572,495.00
Intesa Sanpaolo SpA Financials 2.2495 -2.33%    61,337,668.00
Banco Santander SA Financials 4.4615 -2.07%    23,819,587.00

Source: S&P Capital IQ