European Stocks Finish Mixed, Failing To Hold Earlier Gains
Aug 28, 2018
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*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio
- European stocks finsihed mixed today, as optimism regarding the US-Mexico trade deal begins to wane, and investor focus shifts to Italian budget talks next month as well as the large scale military maneuvers conducted by Russia.
- The Euro Stoxx 600 closed down -0.03%, the FTSE 100 advanced +0.52%, the DAX fell -0.09%, and the CAC 40 finished up +0.11%
- Investor sentiment for European stocks finished trading positive with the advance/decline ratio for the Euro Stoxx 600 currently at 1.5x
- Basic Resources (+1.64%), Automobiles & Parts (+0.84%), and Financial Services (+0.43%) stocks were the top performers in the Euro Stoxx 600 today
- Telecommunications (-0.69%), Oil & Gas (-0.59%), and Banks (-0.56%) stocks were the worst performers in the Euro Stoxx 600 today
- 87 stocks in the Euro Stoxx 600 hit 4-week highs while 12 stocks closed at 4-week lows
- 37 stocks in the Euro Stoxx 600 finished the trading session overbought while 8 stocks closed oversold according to the 16-day RSI Measure
- VSTOXX, the European stocks equivalent of the VIX, closed little changed +0.07 points today to 13.19 after closing at 13.11 yesterday
Stocks Trending in the News
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- EON SE (DB:EOAN) fell 1.94% in today’s trading, following a downgrade by Jeffries which lowered its rating for EON to hold from a buy rating. EON is rated as ‘Neutral’ in our European Large-Cap Global Top Picks.
- Faurecia SA (EXNTPA:EO) has been upgraded to buy from a hold recommendation at Kepler. Despite the upgrade, Kepler lowered its price target for Faurecia from €70 to €65. Shares of Faurecia traded 4.17% higher today to €54.90. Faurecia SA is rated as ‘Neutral’ in our European Large-Cap Global Top Picks.
- Renault SA (ENXTPA:RNA) traded 1.96% higher today to €74.52 after the company was upgraded to neutral from an underperform rating at Credit Suisse. Credit Suisse raised its price target for Renault from €81 to €95. Renault is rated as ‘Unattractive’ in our European Large-Cap Global Top Picks.
What is Going on with European Currencies?
- EUR€ is currently up +0.351% against the USD$ to 1.1719
- GBP£ is currently little changed against the USD$ at 1.2887
- CHF is currently up +0.49% against the USD$ to 1.0258
Highlights from the European Bond Market
- German 10-Year Bunds are lower with yields up 0.4 basis points to 0.38%
- French 10-Year Government Bonds are lower with yields up 0.6 basis points to 0.719%
- UK 10-Year GILTs are lower with yields up 17.4 basis points to 1.452%
- Italian 10-Year Government Bonds are lower with yields up 3.1 basis points to 3.187%
- Spanish 10-Year Government Bonds are lower with yields up 4.5 basis points to 1.455%
Euro Stoxx 50 Movers
In local currency.
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||1D % Chg
|LVMH Moet Hennessy Louis Vuitton SE
|Bayerische Motoren Werke AG
|Koninklijke Philips NV
||1D % Chg
|Industria de Diseno Textil SA
|Deutsche Bank AG
|Banco Bilbao Vizcaya Argentaria SA