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European stocks rising in wake of surprise hike by Turkish Central Bank to 24% for its benchmark rate, a 625bp jump

Sep 13, 2018

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

European Markets

  • European stocks are higher in the wake of the Turkish Central Bank raising its benchmark rate to 24%, a 625bp hike while consensus was for 325bp
  • European stocks are advancing this morning, off earlier highs with the drop in the Turkish Lira and ahead of the ECB rate decision later this AM 
  • The Euro Stoxx 600 is currently up +0.16%, the FTSE 100 has declined -0.29%, the DAX has advanced +0.53%, and the CAC 40 has risen +0.24%
  • Investor sentiment for European stocks is neutral with the advance/decline ratio for the Euro Stoxx 600 currently at 1.03x
  • Automobiles & Parts (+1.55%), Basic Resources (+0.82%), and Technology (+0.78%) stocks are the top performers in the Euro Stoxx 600 today
  • Media (-1.04%), Retail (-0.65%), and Personal & Household Goods (-0.55%) stocks are the worst performers in the Euro Stoxx 600 today
  • 47 stocks in the Euro Stoxx 600 are at 4-week highs while 69 stocks are at 4-week lows
  • 20 stocks in the Euro Stoxx 600 are overbought while 54 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is little changed this morning and is currently at 15.04 after closing at 15.32 yesterday

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1624
  • GBP£ is currently little changed against the USD$ at 1.3046
  • CHF is currently up +0.155% against the USD$ to 1.0317

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 1 basis points to 0.421%
  • German 10-Year Bunds are lower with yields up 1 basis points to 0.421%
  • French 10-Year Government Bonds are lower with yields up 0.8 basis points to 0.727%
  • UK 10-Year GILTs are lower with yields up 1.2 basis points to 1.496%
  • Italian 10-Year Government Bonds are lower with yields up 1.3 basis points to 2.964%
  • Spanish 10-Year Government Bonds are lower with yields up 0.3 basis points to 1.466%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Nokia OYJ Information Technology 4.7 2.62%         4,408,937.00
Bayerische Motoren Werke AG Consumer Discretionary 83 2.12%            623,712.00
Volkswagen AG Consumer Discretionary 141 2.05%            688,990.00
Deutsche Bank AG Financials 9.7 1.75%         4,735,463.00
ASML Holding NV Information Technology 154 1.61%         1,037,228.00
 
Underformers Sector Price 1D % Chg Volume
Unilever NV Consumer Staples 48.6 -0.68%            775,456.00
adidas AG Consumer Discretionary 209 -0.66%            138,420.00
Enel SpA Utilities 4.53 -0.55%         7,660,205.00
Engie SA Utilities 12.4 -0.48%         1,375,145.00
TOTAL SA Energy 53.7 -0.46%            889,370.00