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European stocks are advancing today, retracing yesterday’s losses as Italian coalition government makes concessions to the EU to avoid growing concerns about its public finances

Oct 03, 2018

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

European Markets

  • European stocks are advancing this morning, retracing yesterday’s losses following news that the Italian coalition government will make some concessions to the EU to avoid growing concerns about its public finances 
  • The Italian newspaper Corriere della Serra is reporting that the Italian budget deficit is expected to fall to 2.20% in CY2020 and 2.0% in CY2021 – the market was previously spooked by a targeted budget deficit of 2.4% in CY2019
  • The Euro Stoxx 600 is currently up +0.38%, the FTSE 100 is higher by +0.36%, the DAX has fallen -0.42%, and the CAC 40 has risen +0.46%
  • Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 1.8x
  • Telecommunications (+1.04%), Utilities (+0.77%), and Banks (+0.76%) stocks are the top performers in the Euro Stoxx 600 today
  • Retail (-0.52%), Travel & Leisure (-0.47%), and Basic Resources (+0.02%) stocks are the worst performers in the Euro Stoxx 600 today
  • 34 stocks in the Euro Stoxx 600 are at 4-week highs while 105 stocks are at 4-week lows
  • 22 stocks in the Euro Stoxx 600 are overbought while 35 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is  moving down this morning and is currently at 14.23 after closing at 15.48 yesterday

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1558
  • GBP£ is currently little changed against the USD$ at 1.299
  • CHF is currently down -0.325% against the USD$ to 1.013

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 2 basis points to 0.442%
  • German 10-Year Bunds are lower with yields up 2 basis points to 0.442%
  • French 10-Year Government Bonds are lower with yields up 0.7 basis points to 0.793%
  • UK 10-Year GILTs are lower with yields up 0.7 basis points to 1.535%
  • Italian 10-Year Government Bonds are higher with yields down -6.7 basis points to 3.385%
  • Spanish 10-Year Government Bonds are higher with yields down -0.3 basis points to 1.536%

Euro Stoxx 50 Movers

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

Outperformers Sector Price 1D % Chg Volume
Daimler AG Consumer Discretionary 56 2.04%         4,957,695.00
Enel SpA Utilities 4.5 1.91%      11,332,700.00
Telefonica SA Telecommunication Services 6.88 1.84%         3,758,500.00
Anheuser-Busch InBev SA/NV Consumer Staples 75.5 1.81%            460,214.00
Banco Santander SA Financials 4.33 1.62%      15,549,480.00
 
Underformers Sector Price 1D % Chg Volume
Siemens AG Industrials 107 -2.65%         3,898,813.00
Bayer AG Health Care 74.6 -1.66%         2,638,682.00
Deutsche Bank AG Financials 9.61 -1.11%      14,062,275.00
SAP SE Information Technology 106 -0.58%         2,078,430.00
Allianz SE Financials 192 -0.51%            982,295.00