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European stocks closed mixed as the Euro Stoxx 600 rose the most in 2 weeks with investor focus on the strength of the US economy

Oct 03, 2018

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

European Markets

  • European stocks closed mixed with the Euro Stoxx 600 rising the most in 2 weeks; the focus remains on the strength of the US economy
  • The Euro Stoxx 600 closed up +0.5%, the FTSE 100 advanced +0.48%, the DAX fell -0.42%, and the CAC 40 finished up +0.43%
  • Investor sentiment for European stocks finished trading positive with the advance/decline ratio for the Euro Stoxx 600 currently at 1.47x
  • Telecommunications (+1.17%), Media (+1.17%), and Food & Beverage (+0.87%) stocks were the top performers in the Euro Stoxx 600 today
  • Retail (-0.17%), Travel & Leisure (+0.02%), and Technology (+0.03%) stocks were the worst performers in the Euro Stoxx 600 today
  • 34 stocks in the Euro Stoxx 600 hit 4-week highs while 105 stocks closed at 4-week lows
  • 22 stocks in the Euro Stoxx 600 finished the trading session overbought while 35 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed  down -1.25 points today to 14.23 after closing at 15.48 yesterday

Stocks Trending in the News

Click name for Q-Factor score and financial data

  • Norsk Hydro (NHY NA) closed down 11.9% at 43.38 euros after it announced it is halting production at its aluminum plant in Brazil.  It has not resolved waste issues at the plant. Alcoa (AA) sells the same products that come from the Norsk Hydro facility and Alcoa shares are 7.45% higher at $44.63.  Alcoa is rated ‘Neutral’ in our US Large-Cap Global Top Picks, Norsk Hydro is rated ‘Neutral’ in our European Large-Cap Global Top Picks
  • Novartis (NOVN SW) closed 1.9% higher at 86.56 francs after it announced a licensing agreement with Boston Pharmaceuticals.  The agreement will involve 3 infective-drug candidates and cover worldwide rights; Novartis will receive equity in two new companies to be formed to further develop the drugs.  Novartis is rated ‘Top Buy’ in our European Large-Cap Global Top Picks 
  • Swedbank (SWEDA SS) closed down 5.8% at 206 krona after an Estonian Central Bank report showed USD$1 trillion flowed through its Estonian subsidiary, dwarfing the amount in the Danske Bank (DANSKE SS) scandal.  A company statement said Swedbank is a “low-risk retail bank in the Baltics”.  Swedbank is rated ‘Attractive’ in our European Large-Cap Global Top Picks, Danske Bank is rated ‘Top Short’ in our European Large-Cap Global Top Picks

What is Going on with European Currencies?

  • EUR€ is currently down -0.225% against the USD$ to 1.1522
  • GBP£ is currently little changed against the USD$ at 1.2984
  • CHF is currently down -0.551% against the USD$ to 1.0107

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 5.3 basis points to 0.475%
  • German 10-Year Bunds are lower with yields up 5.3 basis points to 0.475%
  • French 10-Year Government Bonds are lower with yields up 3.4 basis points to 0.82%
  • UK 10-Year GILTs are lower with yields up 4.7 basis points to 1.575%
  • Italian 10-Year Government Bonds are higher with yields down -13.9 basis points to 3.313%
  • Spanish 10-Year Government Bonds are higher with yields down -0.3 basis points to 1.536%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Anheuser-Busch InBev SA/NV Consumer Staples 76.6 3.26%         2,631,188.00
Enel SpA Utilities 4.52 2.54%      48,274,786.00
Telefonica SA Telecommunication Services 6.92 2.43%      13,508,632.00
Daimler AG Consumer Discretionary 56 2.04%         4,957,695.00
Banco Santander SA Financials 4.33 1.82%      49,146,038.00
 
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
ASML Holding NV Information Technology 165 -0.51%            872,840.00