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European stocks closed flat, rebounding off earlier lows, buoyed by buying in US markets

Sep 11, 2018

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

European Markets

  • European stocks bounced off earlier lows when US markets opened higher 
  • The Euro Stoxx 600 closed down -0.05%, the FTSE 100 declined -0.08%, the DAX fell -0.13%, and the CAC 40 finished up +0.27%
  • Investor sentiment for European stocks finished trading negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.81x
  • Oil & Gas (+1.42%), Financial Services (+0.7%), and Industrial Goods & Services (+0.39%) stocks were the top performers in the Euro Stoxx 600 today
  • Automobiles & Parts (-0.95%), Basic Resources (-0.77%), and Food & Beverage (-0.6%) stocks were the worst performers in the Euro Stoxx 600 today
  • 40 stocks in the Euro Stoxx 600 hit 4-week highs while 86 stocks closed at 4-week lows
  • 8 stocks in the Euro Stoxx 600 finished the trading session overbought while 58 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed little changed -0.11 points today to 15.79 after closing at 15.89 yesterday

Stocks Trending in the News

Click name for Q-Factor score and financial data

  • Commerzbank AG (CBK GY) combining with Deutsche Bank AG (DBK GY) is something the German government would be open to according to a report in Spiegel, a magazine in Germany.  The report did not state where it got the information from.  Deutsche Bank close up 0.49% at 9.62 euros and Commerzbank closed up 2.4% at 8.59 euros.  Deutsche Bank is rated ‘Unattractive’ in our European Global Top Picks and Commerzbank is not rated in our Global Top Picks.
  • NXP Semiconductor (NXPI) is holding its investor day in New York today.  The CEO stated that trade tensions are not a near-term is for the company.  The company initiated a quarterly dividend as well of 25 cents a share.  The stock is down 4.3% at $89.63.  NXP is not rated is our Global Top Picks.
  • Ryanair (RYA ID) threatened to cut jobs in Germany as its pilot and cabin crew unions said they will strike on Wednesday.  While Ryanair has made progress on contracts in Ireland and Italy it has yet to make progress in Germany. Ryanair is rated ‘Top Short’ in our European Large-Cap Global Top Picks
     

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1593
  • GBP£ is currently little changed against the USD$ at 1.3015
  • CHF is currently up +0.175% against the USD$ to 1.0275

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 2.9 basis points to 0.43%
  • German 10-Year Bunds are lower with yields up 2.9 basis points to 0.43%
  • French 10-Year Government Bonds are lower with yields up 2.7 basis points to 0.738%
  • UK 10-Year GILTs are lower with yields up 3.1 basis points to 1.5%
  • Italian 10-Year Government Bonds are lower with yields up 3.3 basis points to 2.943%
  • Spanish 10-Year Government Bonds are lower with yields up 1.4 basis points to 1.467%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Schneider Electric SE Industrials 67.3 2.53%         2,128,673.00
TOTAL SA Energy 53 2.12%         5,730,992.00
Airbus SE Industrials 107 1.87%         1,071,759.00
Safran SA Industrials 118 1.56%            837,441.00
E.ON SE Utilities 9.14 1.23%      13,420,846.00
 
Underformers Sector Price 1D % Chg Volume
Bayer AG Health Care 70.3 -2.90%         5,718,059.00
Intesa Sanpaolo SpA Financials 2.33 -1.59%      99,138,309.00
ASML Holding NV Information Technology 158 -1.51%         1,465,895.00
Anheuser-Busch InBev SA/NV Consumer Staples 76.2 -1.50%         2,186,899.00
Munich Re Financials 182 -1.44%            683,399.00