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European stocks closed higher despite concerns on Italian deficit targets and the potential for more trade tension

Sep 27, 2018

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

European Markets

  • European stocks closed higher despite concerns over Italian deficit targets and the potential for more trade tension
  • The Euro Stoxx 600 closed up +0.35%, the FTSE 100 advanced +0.45%, the DAX rose +0.4%, and the CAC 40 finished up +0.5%
  • Investor sentiment for European stocks finished trading positive with the advance/decline ratio for the Euro Stoxx 600 currently at 1.24x
  • Telecommunications (+0.91%), Personal & Household Goods (+0.83%), and Retail (+0.78%) stocks were the top performers in the Euro Stoxx 600 today
  • Basic Resources (-0.3%), Chemicals (-0.2%), and Travel & Leisure (-0.09%) stocks were the worst performers in the Euro Stoxx 600 today
  • 59 stocks in the Euro Stoxx 600 hit 4-week highs while 51 stocks closed at 4-week lows
  • 34 stocks in the Euro Stoxx 600 finished the trading session overbought while 20 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed little changed +0.32 points today to 13.17 after closing at 12.85 yesterday

Stocks Trending in the News

Click name for Q-Factor score and financial data

  • SMA Solar (S92 GR) dropped 22% today to close at 21.96 euros after cutting guidance.  The company cut expected sales for FY2018 to USD$800-850mm down from USD$900mm-1bn.  The company cited rising costs and project delays as the reasons for the cut.  SMA is rated ‘Top Buy’ in our European SMID-Cap Global Top Picks
  • Total SA (FP FP) will continue to expand its electricity business according to its CEO.  Total SA recently acquired Direct Energie and continues to look for targets.  The CEO said the division could account for up to 20% of revenue by 2040.  Total SA is rated ‘Top Buy’ in our European Large-Cap Global Top Picks
  • Vestas Wind Systems (VWS DC) won a contract to install 4 wind parks in Argentina.  The total capacity to be installed is 225 MW with the first delivery set for late 2019.  All projects include a 5-year service agreement.  Vestas closed 0.35% higher at 427.50 kronos.  Vestas is rated ‘Neutral’ in our European Large-Cap Global Top Picks

What is Going on with European Currencies?

  • EUR€ is currently down -0.511% against the USD$ to 1.1679
  • GBP£ is currently down -0.478% against the USD$ to 1.3104
  • CHF is currently down -1.14% against the USD$ to 1.0234

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 0.3 basis points to 0.529%
  • German 10-Year Bunds are lower with yields up 0.3 basis points to 0.529%
  • French 10-Year Government Bonds are lower with yields up 0.3 basis points to 0.846%
  • UK 10-Year GILTs are lower with yields up 0.5 basis points to 1.598%
  • Italian 10-Year Government Bonds are lower with yields up 2.9 basis points to 2.888%
  • Spanish 10-Year Government Bonds are higher with yields down -1.8 basis points to 1.505%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Nokia OYJ Information Technology 4.85 2.41%      19,761,915.00
Essilor International Health Care 129 1.98%            703,832.00
Sanofi Health Care 76.9 1.88%         2,944,172.00
Volkswagen AG Consumer Discretionary 154 1.69%         1,594,113.00
Bayer AG Health Care 77.7 1.56%         4,714,261.00
 
Underformers Sector Price 1D % Chg Volume
Intesa Sanpaolo SpA Financials 2.4 -1.17%    136,048,301.00
Anheuser-Busch InBev SA/NV Consumer Staples 75.9 -1.04%         1,983,914.00
Enel SpA Utilities 4.58 -0.67%      32,208,687.00
Cie de Saint-Gobain Industrials 37.1 -0.52%         1,516,105.00
E.ON SE Utilities 8.92 -0.49%         9,665,118.00