blog

Latest from the Quantamize Blog

European stocks closed higher despite Brexit concerns as UK Prime Minister May said the UK and EU are "at an impasse"

Sep 21, 2018

Start Your Free Trial Today

 

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

European Markets

  • European stocks closed higher despite Brexit concerns in the wake of UK Prime Minister saying the UK and EU are "at an impasse"
  • The Euro Stoxx 600 closed up +0.43%, the FTSE 100 advanced +1.67%, the DAX rose +0.85%, and the CAC 40 finished up +0.78%
  • Investor sentiment for European stocks finished trading positive with the advance/decline ratio for the Euro Stoxx 600 currently at 1.71x
  • Basic Resources (+1.71%), Insurance (+1.06%), and Technology (+0.99%) stocks were the top performers in the Euro Stoxx 600 today
  • Real Estate (-0.68%), Media (-0.13%), and Travel & Leisure (-0.09%) stocks were the worst performers in the Euro Stoxx 600 today
  • 114 stocks in the Euro Stoxx 600 hit 4-week highs while 68 stocks closed at 4-week lows
  • 31 stocks in the Euro Stoxx 600 finished the trading session overbought while 27 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed little changed -0.37 points today to 12.82 after closing at 13.18 yesterday

Stocks Trending in the News

Click name for Q-Factor score and financial data

  • Bloomberg reported that Germany would prefer a merger of Deutsche Bank (DBK GR) and Commerzbank (CBK GR) to any tie-up with a foreign bank.  It is said to prefer a strong national bank for the next financial crisis as that would assure capital would not flee Germany in a crisis as it might if a foreign player were to control either bank.  Commerzbank closed 0.79% higher at 9.55 euros while Deutsche closed 1.1% higher at 10.51 euros.  Both Commerzbank and Deutsche Bank are rated “Unattractive” in our European Large-Cap Global Top Picks
  • The CEO of RBS (RBS LN) said the bank is “in a very strong capital position.”  With that, the bank is exploring ways to return capital to shareholders.  He cited a share buyback or special dividend as options without giving any concrete plans.  RBS closed 1.2% higher at 262.20 pounds.  RBS is rated ‘Neutral’ in our United Kingdom Global Top Picks
  • GlaxoSmithKline (GSK LN) rose 3% to 15.28 pounds on positive news for its Trelegy Ellipta medication.  The European Medicines Agency gave it a positive use extension recommendation today.  Analysts expect it to generate over USD$500mn in revenue by 2021.  Glaxo is rated ‘Attractve’ in our United Kingdom Global Top Picks

What is Going on with European Currencies?

  • EUR€ is currently down -0.297% against the USD$ to 1.1742
  • GBP£ is currently down -1.462% against the USD$ to 1.3071
  • CHF is currently little changed against the USD$ at 1.0422

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -0.9 basis points to 0.462%
  • German 10-Year Bunds are higher with yields down -0.9 basis points to 0.462%
  • French 10-Year Government Bonds are higher with yields down -0.9 basis points to 0.779%
  • UK 10-Year GILTs are higher with yields down -3.2 basis points to 1.553%
  • Italian 10-Year Government Bonds are higher with yields down -5.2 basis points to 2.83%
  • Spanish 10-Year Government Bonds are higher with yields down -1.6 basis points to 1.495%

Euro Stoxx 50 Movers

In local currency.
On Mobile/Tablet scroll to the right.

Outperformers Sector Price 1D % Chg Volume
E.ON SE Utilities 8.99 3.64%    131,626,432.00
LVMH Moet Hennessy Louis Vuitton SE Consumer Discretionary 306 3.33%         2,088,191.00
SAP SE Information Technology 104 2.42%         7,407,942.00
Koninklijke Ahold Delhaize NV Consumer Staples 19.3 2.04%      15,648,107.00
Enel SpA Utilities 4.63 1.87%      78,669,292.00
 
Underformers Sector Price 1D % Chg Volume
Unibail-Rodamco-Westfield Real Estate 173 -2.07%         1,985,462.00
Banco Bilbao Vizcaya Argentaria SA Financials 5.64 -0.74%      83,480,366.00
Safran SA Industrials 120 -0.70%         2,419,367.00
CRH PLC Materials 28.2 -0.63%         4,095,319.00
Koninklijke Philips NV Health Care 39.1 -0.51%         5,107,263.00