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European stocks closed higher ahead of the Fed rate announcement and with UK Prime Minister Theresa May reaffirming her Brexit stance

Sep 26, 2018

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

European Markets

  • European stocks closed higher ahead of the Fed announcement and with UK Prime Minister Theresa May reaffirming her Brexit stance
  • The Euro Stoxx 600 closed up +0.3%, the FTSE 100 advanced +0.05%, the DAX rose +0.09%, and the CAC 40 finished up +0.61%
  • Investor sentiment for European stocks finished trading positive with the advance/decline ratio for the Euro Stoxx 600 currently at 1.28x
  • Travel & Leisure (+0.78%), Food & Beverage (+0.71%), and Media (+0.68%) stocks were the top performers in the Euro Stoxx 600 today
  • Basic Resources (-0.99%), Oil & Gas (-0.18%), and Chemicals (-0.14%) stocks were the worst performers in the Euro Stoxx 600 today
  • 78 stocks in the Euro Stoxx 600 hit 4-week highs while 46 stocks closed at 4-week lows
  • 38 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 -0.31 points today to 12.85 after closing at 13.16 yesterday

Stocks Trending in the News

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  • Airbus (AIR FP) is seeking to land a USD$18bn order for jets from China.  A delegation from Airbus will be visiting China shortly as it hopes to sell 180 A320 Neo narrow body aircrafts.  Airbus closed 0.32%  higher at 108.48 euros.  Airbus is rated ‘Neutral’ in our European Large-Cap Global Top Picks
  • Fox (FOXA) has agreed to sell its 39% stake in Sky (SKY LN) to Comcast after losing the bidding war for the other 61% this past weekend.  Fox is selling its stake at 17.28 pounds, the same price Comcast is paying for the rest.  Fox is up 1.3% at $45.80, Comcast is 0.28% higher at $35.50 while Sky closed up 0.26% at 1730 pence.  Fox is rated “neutral’ in our US Large-Cap Global Top Picks, Comcast is not rated in our Global Top Picks
  • Imperial Brands’ (IMB LN) CEO said the company could be interested in exploring the cannabis industry as tobacco declines.  She described cannabis as part of the “wellness” segment that it is presently studying, though no commitments have been made.  Imperial closed 1.6% higher at 2674 pence.  Imperial is rated ‘Attractive’ in our United Kingdom Global Top Picks.

What is Going on with European Currencies?

  • EUR€ is currently down -0.178% against the USD$ to 1.1746
  • GBP£ is currently little changed against the USD$ at 1.3173
  • CHF is currently down -0.183% against the USD$ to 1.0343

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -1.7 basis points to 0.526%
  • German 10-Year Bunds are higher with yields down -1.7 basis points to 0.526%
  • French 10-Year Government Bonds are higher with yields down -1.3 basis points to 0.843%
  • UK 10-Year GILTs are higher with yields down -3.9 basis points to 1.593%
  • Italian 10-Year Government Bonds are higher with yields down -1.9 basis points to 2.859%
  • Spanish 10-Year Government Bonds are higher with yields down -0.3 basis points to 1.523%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Airbus SE Industrials 108 3.24%         1,980,047.00
Air Liquide SA Materials 112 2.27%         1,392,908.00
Essilor International Health Care 127 1.81%            657,135.00
Unibail-Rodamco-Westfield Real Estate 177 1.65%            372,211.00
Telefonica SA Telecommunication Services 6.89 1.59%      15,507,694.00
 
Underformers Sector Price 1D % Chg Volume
Intesa Sanpaolo SpA Financials 2.43 -1.52%    113,650,396.00
Deutsche Post AG Industrials 31.1 -1.46%         3,524,935.00
BASF SE Materials 78.7 -1.39%         3,764,361.00
Deutsche Bank AG Financials 10.2 -1.35%         9,835,100.00
adidas AG Consumer Discretionary 210 -0.57%            714,130.00