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European stocks close at the lows of the day with profit taking across global markets impacting investor sentiment

Aug 30, 2018

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

European Markets

  • The Euro Stoxx 600 closed down -0.32%, the FTSE 100 declined -0.62%, the DAX fell -0.54%, and the CAC 40 finished down -0.42%
  • Investor sentiment for European stocks finished trading negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.47x
  • Oil & Gas (+0.07%), Telecommunications (-1.69%), and Basic Resources (-0.8%) stocks were the top performers in the Euro Stoxx 600 today
  • Automobiles & Parts (-0.04%), Food & Beverage (-0.36%), and Utilities (-0.26%) stocks were the worst performers in the Euro Stoxx 600 today
  • 118 stocks in the Euro Stoxx 600 hit 4-week highs while 47 stocks closed at 4-week lows
  • 50 stocks in the Euro Stoxx 600 finished the trading session overbought while 14 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed up +1.16 points today to 14.15 after closing at 12.99 yesterday

Stocks Trending in the News

Click name for Q-Factor score and financial data

  • Electrolux (ELUXB SS) will start producing ovens in Europe with Google Assistant.  This will expand the collaboration with Alphabet’s (GOOGL) Google to Europe after being the first to offer Google Assistant in the United States last year.   Alphabet is rated ‘Neutal’ in our US Large-Cap Global Picks and ‘Neutral’ in our US Information Technology Global Top Picks.  Electrolux is rated ‘Neutral’ in our European Large-Cap Global Top Picks.
  • GAM Holdings (GAM SW), the Swiss money manager, had its price target cut by Credit Suisse 51% to 7 francs.  The firm has seen its share price plunge recently after suspending bond manager Tim Haywood as short interest in the stock rose to 2.2% of outstanding shares.  GAM Holdings is rated ‘Neutral’ in our European SMID-Cap Global Top Picks.
  • Vodaphone’s (VOD LN) unprofitable Australian mobile operation Vodaphone Hutchinson Australia will merge with internet provider TPG Telecom Ltd.  This mobile operation was a JV with CK Hutchinson (1 HK) and the transaction will keep the JV partners involved for at least 2 more years.   Vodaphone is rated ‘Unattractive’ in our United Kingdom All-Cap Global Top Picks and CK Hutchinson is rated ‘Neutral’ in our China All-Cap Global Top Picks.
     

What is Going on with European Currencies?

  • EUR€ is currently down -0.461% against the USD$ to 1.1653
  • GBP£ is currently down -0.154% against the USD$ to 1.3006
  • CHF is currently little changed against the USD$ at 1.0302

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -5.8 basis points to 0.346%
  • German 10-Year Bunds are higher with yields down -5.8 basis points to 0.346%
  • French 10-Year Government Bonds are higher with yields down -4.3 basis points to 0.693%
  • UK 10-Year GILTs are higher with yields down -3.4 basis points to 1.455%
  • Italian 10-Year Government Bonds are lower with yields up 9 basis points to 3.215%
  • Spanish 10-Year Government Bonds are lower with yields up 0.6 basis points to 1.47%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Bayerische Motoren Werke AG Consumer Discretionary 84.6 0.44%         1,848,549.00
L'Oreal SA Consumer Staples 210 0.43%            569,005.00
Cie de Saint-Gobain Industrials 36.4 0.29%         1,505,446.00
adidas AG Consumer Discretionary 215 0.28%            431,631.00
Air Liquide SA Materials 110 0.23%            764,916.00
 
Underformers Sector Price 1D % Chg Volume
Unibail-Rodamco-Westfield Real Estate 182 -4.33%            805,830.00
Banco Bilbao Vizcaya Argentaria SA Financials 5.38 -2.75%      34,060,208.00
Intesa Sanpaolo SpA Financials 2.16 -2.36%      89,699,891.00
Telefonica SA Telecommunication Services 7.11 -2.11%      22,364,636.00
Industria de Diseno Textil SA Consumer Discretionary 26.1 -2.06%         4,995,428.00