European Stocks End Trading Session Lower, Falling For First Time In 4 Sessions
Aug 23, 2018
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*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio
- European stocks declined today as reignited Sino-American trade tensions, indications of a looming Fed interest rate hike, and the continued woes of the European auto sector pushed markets lower
- The Euro Stoxx 600 closed down -0.17%, the FTSE 100 declined -0.15%, the DAX fell -0.16%, and the CAC 40 finished down -0.02%
- Investor sentiment for European stocks finished trading neutral with the advance/decline ratio for the Euro Stoxx 600 currently at 1.08x
- Technology (+0.77%), Real Estate (+0.27%), and Industrial Goods & Services (+0.21%) stocks were the top performers in the Euro Stoxx 600 today
- Automobiles & Parts (-1.55%), Basic Resources (-0.68%), and Banks (-0.46%) stocks were the worst performers in the Euro Stoxx 600 today
- 66 stocks in the Euro Stoxx 600 hit 4-week highs while 39 stocks closed at 4-week lows
- 26 stocks in the Euro Stoxx 600 finished the trading session overbought while 20 stocks closed oversold according to the 16-day RSI Measure
- VSTOXX, the European stocks equivalent of the VIX, closed little changed -0.21 points today to 13.64 after closing at 13.85 yesterday
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- Continental AG (DB:CON) traded 4.31% lower to €541.15 today, after the company was downgraded to neutral from an outperform rating at MainFirst Bank AG. Continental AG has an ‘Unattractive’ rating in our European Large-Cap Global Top Picks.
- Ryanair Holdings PLC (ISE:RY4C) traded 5.48% higher today to €13.87 after the company was able to reach a new labor deal with a group of Irish pilots who were protesting for better employment terms. Ryanair is rated as a ‘Top-Short’ in our European Large-Cap Global Top Picks.
- Siemens AG (DB:SIE) could cut as many as 20,000 administrative jobs in a push to improve efficiency as part of the company’s “Vision 2020” plan, according to CEO Joe Kaeser. Siemens AG shares rose 1.16% in today’s trading. Siemens AG is rated as ‘Neutral’ in our European Large-Cap Global Top Picks.
What is Going on with European Currencies?
- EUR€ is currently down -0.397% against the USD$ to 1.1551
- GBP£ is currently down -0.767% against the USD$ to 1.2812
- CHF is currently down -0.275% against the USD$ to 1.0143
Highlights from the European Bond Market
- German 10-Year Bunds are higher with yields down -0.5 basis points to 0.339%
- French 10-Year Government Bonds are higher with yields down -0.9 basis points to 0.678%
- UK 10-Year GILTs are higher with yields down -0.2 basis points to 1.27%
- Italian 10-Year Government Bonds are lower with yields up 2.7 basis points to 3.088%
- Spanish 10-Year Government Bonds are higher with yields down -0.8 basis points to 1.373%
Euro Stoxx 50 Movers
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