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ifo Institute's Business Climate Index Rose Sharply, Signaling Improving Outlook for the Eurozone Economy

Aug 27, 2018

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*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

European Markets

  • European markets ignore further Turkish Lira decline as a sharp increase in the closely watched ifo Institute's Business Climate Index indicates expectations of improving economic outlook in the Eurozone. The ifo Institute is a prominant German economic institute.
  • The Euro Stoxx 600 is currently up +0.24%, the FTSE 100 is higher by +0.19%, the DAX has advanced +0.47%, and the CAC 40 has risen +0.4%
  • The Euro Stoxx 600 is lagging behind the S&P 500 by more than 8% YTD with investors more cautious about the earnings outlook for European corporates vs. their counterparts in the US 
  • A UK summer bank holiday has oveshadowed trading, with volume in the Euro Stoxx 600 nearly 66% below its 30-day average
  • German Bund yields are back up to two-week highs following a surprising print from the Ifo Institute German business sentiment survey suggests the outlook for the German and Eurozone economies is improving 
  • Investor sentiment for European stocks is neutral with the advance/decline ratio for the Euro Stoxx 600 currently at 1.1x
  • Automobiles & Parts (+1.23%), Retail (+0.73%), and Technology (+0.7%) stocks are the top performers in the Euro Stoxx 600 today
  • Telecommunications (-0.1%), Basic Resources (-0.09%), and Utilities (-0.08%) stocks are the worst performers in the Euro Stoxx 600 today
  • 76 stocks in the Euro Stoxx 600 are at 4-week highs while 30 stocks are at 4-week lows
  • 26 stocks in the Euro Stoxx 600 are overbought while 14 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is moving little changed this morning and is currently at 13.31 after closing at 13.19 last week

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1619
  • GBP£ is currently little changed against the USD$ at 1.2857
  • CHF is currently little changed against the USD$ at 1.0172

Highlights from the European Bond Market

  • German 10-Year Bunds are lower with yields up 1 basis point to 0.355%
  • French 10-Year Government Bonds are lower with yields up 0.7 basis points to 0.694%
  • UK 10-Year GILTs are lower with yields up 0.8 basis points to 1.278%
  • Italian 10-Year Government Bonds are flat with yields unchanged at 3.152%
  • Spanish 10-Year Government Bonds are lower with yields up 0.6 basis points to 1.4%

Euro Stoxx 50 Movers

In local currency.
On Mobile/Tablet scroll to the right.

 
Outperformers Sector Price 1D% CHG Volume
Bayerische Motoren Werke AG Consumer Discretionary 82.9 2.01%            478,819.00
Volkswagen AG Consumer Discretionary 141 1.97%            335,779.00
ASML Holding NV Information Technology 177 1.31%            276,508.00
Daimler AG Consumer Discretionary 55.4 1.22%            683,382.00
Schneider Electric SE Industrials 70.1 0.92%            302,264.00
Underperformers Sector Price 1D% CHG Volume
Enel SpA Utilities 4.35 -1.16%         5,599,072.00
Intesa Sanpaolo SpA Financials 2.18 -1.09%      27,729,065.00
Vivendi SA Consumer Discretionary 22.3 -0.62%            512,987.00
CRH PLC Materials 29.1 -0.58%            136,169.00
Eni SpA Energy 16.3 -0.56%         1,602,731.00