European Stocks Close Higher, Euro Stoxx 600 At Highest Level In A Week
Aug 21, 2018
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- European stocks traded higher for the second consecutive session on optimism that progress will be made during the US-China trade summit scheduled for tomorrow
- The Euro Stoxx 600 is up to its highest level since last Tuesday, but is still down 1.67% on a MTD basis
- The Euro Stoxx 600 closed up +0.24%, the FTSE 100 declined -0.34%, the DAX rose +0.43%, and the CAC 40 finished up +0.54%
- Investor sentiment for European stocks finished trading positive with the advance/decline ratio for the Euro Stoxx 600 currently at 2.23x
- Utilities (+0.41%), Construction & Materials (+0.84%), and Banks (+0.72%) stocks were the top performers in the Euro Stoxx 600 today
- Travel & Leisure (-0.57%), Media (-0.23%), and Basic Resources (-0.22%) stocks were the worst performers in the Euro Stoxx 600 today
- 67 stocks in the Euro Stoxx 600 hit 4-week highs while 18 stocks closed at 4-week lows
- 22 stocks in the Euro Stoxx 600 finished the trading session overbought while 30 stocks closed oversold according to the 16-day RSI Measure
- VSTOXX, the European stocks equivalent of the VIX, closed little changed -0.89 points today to 13.61 after closing at 14.5 yesterday
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- Bayer AG (DB:BAYN) traded 1.33% higher to €82.18 after the company was upgraded from hold to a buy rating at Berenberg. Bayer is rated as “Neutral” in our European Large-Cap Global Top Picks.
- Saipem SpA (BIT:SPM) advanced 6.97% to €4.59, after it was reported that the company was awarded USD$700mm in offshore E&C contracts in Guyana and Congo. Saipem is rated as "Neutral" in our European Large-Cap Global Top Picks.
- Novo Nordisk A/S (CPSE:NOVO B) shares rose 1.52% to DKK317.50 after the company was upgraded from reduce to a buy rating at New Street Research. Novo Nordisk rated as “Neutral” in our European Large-Cap Global Top Picks.
Highlights from the European Bond Market
- German 10-Year Bunds are lower with yields up 2.9 basis points to 0.331%
- French 10-Year Government Bonds are lower with yields up 1.9 basis points to 0.672%
- UK 10-Year GILTs are lower with yields up 4.4 basis points to 1.267%
- Italian 10-Year Government Bonds are higher with yields down 2.6 basis points to 2.988%
- Spanish 10-Year Government Bonds are higher with yields down 2.2 basis points to 1.368%
What is Going on with European Currencies?
- EUR€ is currently up +0.705% against the USD$ to 1.1563
- GBP£ is currently up +0.656% against the USD$ to 1.2882
- CHF is currently up +0.565% against the USD$ to 1.0143
Data in Price Return and Updated Real-Time (with a delay), Source: Stockdio
Euro Stoxx 50 Movers
In local currency
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|Intesa Sanpaolo SpA
|Cie de Saint-Gobain
|ING Groep NV
|Deutsche Bank AG
|Koninklijke Philips NV