European stocks close up largely on strength in Italy's benchmark as Finance Minister says budget will adhere to EU fiscal rules
Sep 10, 2018
Start Your Free Trial Today
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio
- European stocks rose largely on the positive comments from Italy's Finance Minister in which he said all EU fiscal rules would be followed in their new budget
- The Euro Stoxx 600 closed up +0.47%, the FTSE 100 advanced +0.02%, the DAX rose +0.22%, and the CAC 40 finished up +0.33%
- Investor sentiment for European stocks finished trading positive with the advance/decline ratio for the Euro Stoxx 600 currently at 2.28x
- Utilities (+1.56%), Banks (+0.88%), and Retail (+0.83%) stocks were the top performers in the Euro Stoxx 600 today
- Chemicals (-0.26%), Basic Resources (-0.1%), and Real Estate (+0.11%) stocks were the worst performers in the Euro Stoxx 600 today
- 13 stocks in the Euro Stoxx 600 hit 4-week highs while 228 stocks closed at 4-week lows
- 8 stocks in the Euro Stoxx 600 finished the trading session overbought while 89 stocks closed oversold according to the 16-day RSI Measure
- VSTOXX, the European stocks equivalent of the VIX, closed little changed -0.56 points today to 15.89 after closing at 16.45 last week
Stocks Trending in the News
Click name for Q-Factor score and financial data
- Betsson AB (BETSB SS) shares fell 2.9% to 65.10 kronos after it was downgraded at ABG to sell. Additionally, Bodenholm Capital reported a 1.113% short position in the stock. Betsson is rated ‘Attractive’ in our European SMID-Cap Global Top Picks.
- Novartis AG (NOVN SQ) rose 1.5% to 80.30 euros on Bank of America upgrading the stock to buy from underperform. The price target was set at 100 francs indicating 26% upside to its present price. Novartis is rated ‘Top Buy’ in our European Large-Cap Global Top Picks.
- Unicredit (UCG IM) stock rose 4.7% to 13.54 euros after Italy’s Finance Minister said the country’s budget would adhere to the EU fiscal rules. His comments were very market friendly and sent most stocks higher in Italy. Unicredit is rated ‘Unattractive’ in our European Large-Cap Global Top Picks
What is Going on with European Currencies?
- EUR€ is currently up +0.468% against the USD$ to 1.1603
- GBP£ is currently up +0.797% against the USD$ to 1.3023
- CHF is currently down -0.504% against the USD$ to 1.0265
Highlights from the European Bond Market
- Generic Euro 10-Year Bonds are lower with yields up 1.4 basis points to 0.401%
- German 10-Year Bunds are lower with yields up 1.4 basis points to 0.401%
- French 10-Year Government Bonds are higher with yields down -0.8 basis points to 0.711%
- UK 10-Year GILTs are lower with yields up 1 basis points to 1.469%
- Italian 10-Year Government Bonds are higher with yields down -12.5 basis points to 2.91%
Euro Stoxx 50 Movers
In local currency.
On Mobile/Tablet scroll to the right.
||1D % Chg
|Intesa Sanpaolo SpA
|Banco Santander SA
||1D % Chg
|Koninklijke Ahold Delhaize NV
|Deutsche Bank AG