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European stocks close lower led by carmakers as doubts on trade remain in the wake of President Trump comments

Aug 31, 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 -0.8%, the FTSE 100 declined -1.11%, the DAX fell -1.04%, and the CAC 40 finished down -1.3%
  • Investor sentiment for European stocks finished trading negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.27x
  • Travel & Leisure (+0.27%), Food & Beverage (-0.19%), and Real Estate (-0.25%) stocks were the top performers in the Euro Stoxx 600 today
  • Automobiles & Parts (-1.55%), Personal & Household Goods (-1.31%), and Oil & Gas (-1.27%) stocks were the worst performers in the Euro Stoxx 600 today
  • 72 stocks in the Euro Stoxx 600 hit 4-week highs while 72 stocks closed at 4-week lows
  • 39 stocks in the Euro Stoxx 600 finished the trading session overbought while 22 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed up +1.2 points today to 15.35 after closing at 14.15 yesterday

Stocks Trending in the News

Click name for Q-Factor score and financial data

  • Casino (CO FP) shares dropped 10.22% after well known short-seller Muddy Waters Capital tweeted that one of Casino’s subsidiaries had not reported complete financial results.  This was the results of a technical problem and the company reported the data as part of larger consolidated results so in reality there was no lack of data.  Casino is rated ‘Unattractive’ in our European Large-Cap Global Top Picks.
  • Saint Gobain (SGO FP) was raised to a buy from underperform at Bank of America Merrill Lynch after the stock has fallen 20% YTD.  Its price target was raised to EU44 from EU38 and the stock closed 1.97% higher on the news.  Saint Gobain is rated ‘Neutral’ in our European Large-Cap Global Top Picks.
  • UBS (UBS) has decided to close down its robo-advisor platform SmartWealth which until now operated as a pilot program.  UBS said it saw limited near term potential for the business and decided to cease operations.  UBS closed down 1.35% on the news.  UBS is rated ‘Unattractive’ in our European Large-Cap Global Top Picks.

What is Going on with European Currencies?

  • EUR€ is currently down -0.728% against the USD$ to 1.1586
  • GBP£ is currently down -0.384% against the USD$ to 1.2959
  • CHF is currently little changed against the USD$ at 1.0306

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -2 basis points to 0.326%
  • German 10-Year Bunds are higher with yields down -2 basis points to 0.326%
  • French 10-Year Government Bonds are higher with yields down -1.1 basis points to 0.682%
  • UK 10-Year GILTs are higher with yields down -2.8 basis points to 1.427%
  • Italian 10-Year Government Bonds are lower with yields up 2.1 basis points to 3.236%
  • Spanish 10-Year Government Bonds are lower with yields up 0.3 basis points to 1.473%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Cie de Saint-Gobain Industrials 37.2 1.97%         1,167,305.00
Banco Santander SA Financials 4.29 0.14%      43,430,155.00
Koninklijke Ahold Delhaize NV Consumer Staples 21 -0.10%         5,095,779.00
adidas AG Consumer Discretionary 215 -0.14%            503,980.00
Banco Bilbao Vizcaya Argentaria SA Financials 5.37 -0.20%      27,870,062.00
 
Underformers Sector Price 1D % Chg Volume
Engie SA Utilities 12.6 -2.73%         7,889,327.00
LVMH Moet Hennessy Louis Vuitton SE Consumer Discretionary 302 -2.66%            642,136.00
Airbus SE Industrials 106 -2.50%         1,479,511.00
Anheuser-Busch InBev SA/NV Consumer Staples 80.7 -1.98%         3,006,701.00
CRH PLC Materials 28.6 -1.82%         1,167,140.00