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Global risk off sentiment grips European stocks with tech and natural resources leading decline

Sep 06, 2018

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

European Markets

  • European stocks could not escape the global risk off movement and saw a broad-based sell-off 
  • The Euro Stoxx 600 closed down -0.59%, the FTSE 100 declined -0.87%, the DAX fell -0.71%, and the CAC 40 finished down -0.31%
  • Investor sentiment for European stocks finished trading negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.42x
  • Utilities (+0.57%), Construction & Materials (+0.13%), and Industrial Goods & Services (+0.02%) stocks were the top performers in the Euro Stoxx 600 today
  • Basic Resources (-1.75%), Technology (-1.18%), and Oil & Gas (-1.08%) stocks were the worst performers in the Euro Stoxx 600 today
  • 16 stocks in the Euro Stoxx 600 hit 4-week highs while 195 stocks closed at 4-week lows
  • 7 stocks in the Euro Stoxx 600 finished the trading session overbought while 55 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed little changed -0.19 points today to 17.1 after closing at 17.29 yesterday

Stocks Trending in the News

Click name for Q-Factor score and financial data

  • Altran (ALT FP) shares fell 8.1% to 8.49 euros after reporting weak 1H18 earnings.  Free cash flow came in below expectations though management said this was due to one-offs and maintained guidance.  Altran is rated ‘Neutral’ in our European SMID-Cap Global Top Picks.
  • Casino (CO FP) shares rose 3.2% to 27.57 euros on news that French regulators were notified that Goldman Sachs now holds 7.6% of Casino’s capital through companies it controls.  Its holding represents 5.2% of voting rights.  Casino is rated ‘Neutral’ in our European Large-Cap Global Top Picks.
  • Monsanto is demanding access to internal documents of the activist group suing to ban the weedkiller Roundup.  In court today in New York the activists are fighting against this request.  Monsanto was acquired by Bayer (BAYN GR) in June for USD$63bn.  Bayer fell 4.4% on the news to 75.18 euros.  Bayer is rated ‘Neutral’ in our European Large-Cap Global Top Picks.

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1618
  • GBP£ is currently up +0.256% against the USD$ to 1.2938
  • CHF is currently up +0.496% against the USD$ to 1.0341

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down 2.5 basis points to 0.355%
  • German 10-Year Bunds are higher with yields down 2.5 basis points to 0.355%
  • French 10-Year Government Bonds are higher with yields down 2.3 basis points to 0.695%
  • UK 10-Year GILTs are higher with yields down 2.6 basis points to 1.416%
  • Italian 10-Year Government Bonds are lower with yields up 12.3 basis points to 3.058%
  • Spanish 10-Year Government Bonds are flat with yields little changed 0 basis points to 1.449%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Safran SA Industrials 116 6.37%         2,072,594.00
Enel SpA Utilities 4.38 2.05%      52,990,414.00
Airbus SE Industrials 104 1.24%         1,308,310.00
Vinci SA Industrials 80.4 1.18%         1,726,724.00
CRH PLC Materials 28.3 1.04%         2,008,771.00
 
Underformers Sector Price 1D % Chg Volume
ASML Holding NV Information Technology 160 -4.58%         2,531,932.00
Bayer AG Health Care 74.9 -4.57%         5,945,604.00
Banco Bilbao Vizcaya Argentaria SA Financials 5.23 -2.52%      26,402,808.00
Essilor International Health Care 119 -1.78%            692,949.00
Unilever NV Consumer Staples 47.4 -1.63%         5,927,643.00