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European Stocks continued the selloff and closed at the lowest level since April

Sep 05, 2018

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

European Markets

  • European stocks closed at the lowest level since April as the global selloff continued
  • The Euro Stoxx 600 closed down -1.09%, the FTSE 100 declined -1%, the DAX fell -1.39%, and the CAC 40 finished down -1.54%
  • Investor sentiment for European stocks finished trading negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.28x
  • Banks (+0.37%), Real Estate (-0.01%), and Insurance (-0.37%) stocks were the top performers in the Euro Stoxx 600 today
  • Technology (-3.04%), Oil & Gas (-1.77%), and Media (-1.69%) stocks were the worst performers in the Euro Stoxx 600 today
  • 41 stocks in the Euro Stoxx 600 hit 4-week highs while 114 stocks closed at 4-week lows
  • 17 stocks in the Euro Stoxx 600 finished the trading session overbought while 31 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed little changed +0.9 points today to 17.29 after closing at 16.39 yesterday

Stocks Trending in the News

Click name for Q-Factor score and financial data

  • AB InBev (ABI BB) had its price target lowered to 96 euros from 100 euros at Bernstein today sending the stock 2.02% lower to 78.20 euros.   Higher raw materials prices in the year to come were cited as a prime reason for the lower target price.  AB InBev is rated ‘Neutral’ in our European Large-Cap Global Top Picks.
  • Continental AG (CON GR) fell 1.9% to 152.20 euros on news that executives sent 400 managers a letter saying the company “is on the wrong track” and that changes are needed now.   This comes in the wake of the company’s second profit warning this year.  Continental is rated ‘Unattractive’ in our European Large-Cap Global Top Picks.
  • RBS (RSB LN) said it will close an additional 54 branches and eliminate 258 jobs after failing to spin off its Williams & Glenn unit.  The bank has seen a 53% increase mobile banking this year also contributing to the closures.  RBS is rated ‘Neutral’ in our United Kingdom All-Cap Global Top Picks.

What is Going on with European Currencies?

  • EUR€ is currently up +0.337% against the USD$ to 1.1621
  • GBP£ is currently up +0.381% against the USD$ to 1.2904
  • CHF is currently up +0.292% against the USD$ to 1.0293

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 2.4 basis points to 0.381%
  • German 10-Year Bunds are lower with yields up 2.4 basis points to 0.381%
  • French 10-Year Government Bonds are lower with yields up 2.6 basis points to 0.718%
  • UK 10-Year GILTs are lower with yields up 1.6 basis points to 1.445%
  • Italian 10-Year Government Bonds are higher with yields down -9.5 basis points to 2.922%
  • Spanish 10-Year Government Bonds are lower with yields up 1.8 basis points to 1.447%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Intesa Sanpaolo SpA Financials 2.33 2.10%    196,200,534.00
Societe Generale SA Financials 36.1 1.22%         6,770,112.00
Koninklijke Ahold Delhaize NV Consumer Staples 21 0.94%         6,279,111.00
Cie de Saint-Gobain Industrials 36.4 0.54%         2,590,323.00
BNP Paribas SA Financials 51.1 0.45%         5,947,012.00
 
Underformers Sector Price 1D % Chg Volume
LVMH Moet Hennessy Louis Vuitton SE Consumer Discretionary 281 -3.58%         1,051,068.00
SAP SE Information Technology 99.2 -3.11%         2,784,927.00
Nokia OYJ Information Technology 4.63 -2.96%      20,529,616.00
Vivendi SA Consumer Discretionary 21.6 -2.83%         4,082,705.00
Fresenius SE & Co KGaA Health Care 63.9 -2.62%         1,367,771.00