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Trade and political risks weighed on European stocks today to close lower as losses accelerated through the day

Sep 24, 2018

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

European Markets

  • European stocks closed lower on trade and political tension with losses accelerating through the day
  • The Euro Stoxx 600 closed down -0.56%, the FTSE 100 declined -0.42%, the DAX fell -0.64%, and the CAC 40 finished down -0.33%
  • Investor sentiment for European stocks finished trading negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.36x
  • Media (+1.35%), Oil & Gas (+1.12%), and Retail (-0.07%) stocks were the top performers in the Euro Stoxx 600 today
  • Automobiles & Parts (-1.52%), Construction & Materials (-1.13%), and Personal & Household Goods (-1.11%) stocks were the worst performers in the Euro Stoxx 600 today
  • 137 stocks in the Euro Stoxx 600 hit 4-week highs while 35 stocks closed at 4-week lows
  • 40 stocks in the Euro Stoxx 600 finished the trading session overbought while 19 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed little changed +0.92 points today to 13.73 after closing at 12.82 last week

Stocks Trending in the News

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  • Deutsche Bank (DBK GR) was order by its market regulator to improve its money laundering and terrorist financing controls.  This follows Deutsche’s admission in August that these controls were insufficient.  The regulator appointed a monitor to oversee these improvements and report back to it.  Deutsche closed down 0.57% at 10.44 euros.  Deutsche Bank is rated ‘Unattractive’ in our European Large-Cap Global Top Picks.
  • Smiths Group (SMIN LN) was downgraded today at JP Morgan to neutral from buy and its price target was cut to 1660 pence from 1690.  Bank of America Merrill Lynch also cut the stock from buy to neutral.  Smiths closed down 1.3% at 1500.50 pence.  Smiths is rated ‘Unattractive’ in our United Kingdom Global Top Picks.
  • Volvo (VOLVB SS) announced it halted truck production in Iran in the wake of US sanctions.  The sanctions are preventing Volvo from getting paid, hence the halt.  Volvo traded 0.72% lower at 159.10 krona.  Volvo is rated ‘Top Buy’ in our European Large-Cap Global Top Picks.

What is Going on with European Currencies?

  • EUR€ is currently up +0.196% against the USD$ to 1.1772
  • GBP£ is currently up +0.39% against the USD$ to 1.3123
  • CHF is currently down -0.297% against the USD$ to 1.04

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 4.8 basis points to 0.51%
  • German 10-Year Bunds are lower with yields up 4.8 basis points to 0.51%
  • French 10-Year Government Bonds are lower with yields up 5.1 basis points to 0.83%
  • UK 10-Year GILTs are lower with yields up 6 basis points to 1.613%
  • Italian 10-Year Government Bonds are lower with yields up 11.9 basis points to 2.949%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Eni SpA Energy 16.2 1.67%      10,899,587.00
TOTAL SA Energy 55.5 1.15%         6,891,452.00
Vivendi SA Consumer Discretionary 22.3 0.91%         3,486,385.00
Siemens AG Industrials 111 0.73%         2,264,273.00
Koninklijke Ahold Delhaize NV Consumer Staples 19.5 0.68%         6,072,056.00
 
Underformers Sector Price 1D % Chg Volume
Bayerische Motoren Werke AG Consumer Discretionary 83.5 -2.65%         2,303,604.00
Daimler AG Consumer Discretionary 56.1 -2.57%         3,956,861.00
Intesa Sanpaolo SpA Financials 2.4 -2.10%      84,039,167.00
Banco Santander SA Financials 4.48 -2.05%      40,969,551.00
Cie de Saint-Gobain Industrials 37.8 -1.92%         2,426,492.00