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Profit taking in European stocks continued until close, capping a day of risk-off

Oct 05, 2018

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

European Markets

  • Profit taking was steady all day with European stocks closing lower with strong risk-off movements
  • The Euro Stoxx 600 closed down -0.86%, the FTSE 100 declined -1.35%, the DAX fell -1.08%, and the CAC 40 finished down -0.95%
  • Investor sentiment for European stocks finished trading negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.26x
  • Media (0%), Utilities (-0.21%), and Personal & Household Goods (-0.27%) stocks were the top performers in the Euro Stoxx 600 today
  • Basic Resources (-2.53%), Technology (-2.15%), and Oil & Gas (-1.41%) stocks were the worst performers in the Euro Stoxx 600 today
  • 48 stocks in the Euro Stoxx 600 hit 4-week highs while 145 stocks closed at 4-week lows
  • 18 stocks in the Euro Stoxx 600 finished the trading session overbought while 54 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed  down -1.79 points today to 14.23 after closing at 16.02 yesterday

Stocks Trending in the News

Click name for Q-Factor score and financial data

  • Kering (KER FP) shares closed 2% lower at 429.10 euros after a video appeared of its CEO reassuring employees about potential sales slowdowns.  The video has fed existing fears about a slowdown at Kering and other luxury goods retailers.  Kering is rated ‘Attractive’ in our European Large-Cap Global Top Picks.
  • Novo Nordisk (NOVOB DC) shares closed 1.8% higher to 286.05 krona after it was reported that sales of obesity branded drugs rose 1.3% in September.  Saxenda, from Novo Nordisk, led the sales gains with a 1% gain, according to data compiled by Symphony Health Solutions.  Novo Nordisk is rated ‘Neutral’ in our European Large-Cap Global Top Picks.
  • Osram (OSR GR) closed 2.7% lower at 33.01 euros after Credit Suisse initiated coverage with a neutral rating.  The report highlights a fair valuation and that any surprises are likely to be to the downside if they come.  Osram is well positioned strategically with a favorable end user exposure.  Osram is rated ‘Top Short’ in our European Large-Cap Global Top Picks

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1511
  • GBP£ is currently up +0.576% against the USD$ to 1.3096
  • CHF is currently little changed against the USD$ at 1.0081

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 4.2 basis points to 0.573%
  • German 10-Year Bunds are lower with yields up 4.2 basis points to 0.573%
  • French 10-Year Government Bonds are lower with yields up 3.1 basis points to 0.905%
  • UK 10-Year GILTs are lower with yields up 5.3 basis points to 1.722%
  • Italian 10-Year Government Bonds are lower with yields up 9.5 basis points to 3.424%
  • Spanish 10-Year Government Bonds are lower with yields up 1.4 basis points to 1.577%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
L'Oreal SA Consumer Staples 201 0.40%            521,012.00
Safran SA Industrials 116 0.22%            992,739.00
Munich Re Financials 194 0.21%            585,723.00
AXA SA Financials 23.7 0.15%         8,333,468.00
Unilever NV Consumer Staples 46.73 -0.01%         6,216,132.00
 
Underformers Sector Price 1D % Chg Volume
Intesa Sanpaolo SpA Financials 2.1 -3.07%    136,760,214.00
Nokia OYJ Information Technology 4.67 -2.08%      15,988,545.00
Schneider Electric SE Industrials 66.2 -1.96%         1,242,720.00
Cie de Saint-Gobain Industrials 35.4 -1.87%         2,656,083.00
Volkswagen AG Consumer Discretionary 149 -1.83%         1,177,414.00