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European stocks closed higher after 3 losing sessions despite Italy's war of words with the EU raging on

Oct 09, 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 Italy's war of words with the EU raging on
  • The Euro Stoxx 600 closed up +0.19%, the FTSE 100 advanced +0.06%, the DAX rose +0.25%, and the CAC 40 finished up +0.35%
  • Investor sentiment for European stocks finished trading neutral with the advance/decline ratio for the Euro Stoxx 600 currently at 1.05x
  • Oil & Gas (+1.53%), Basic Resources (+1.16%), and Real Estate (+1.06%) stocks were the top performers in the Euro Stoxx 600 today
  • Chemicals (-0.71%), Construction & Materials (-0.43%), and Telecommunications (-0.4%) stocks were the worst performers in the Euro Stoxx 600 today
  • 5 stocks in the Euro Stoxx 600 hit 4-week highs while 264 stocks closed at 4-week lows
  • 4 stocks in the Euro Stoxx 600 finished the trading session overbought while 128 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed  moving down -3.39 points today to 14.23 after closing at 17.63 last week

Stocks Trending in the News

Click name for Q-Factor score and financial data

  • LVMH (MC FP) closed up 1.4% at 285.70 euros after reporting 3Q organic sales growth of 10%, matching consensus and easing fears of Chinese luxury demand.  LVMH continues to sees strong demand for its luxury products in China, though most investors will wait for its conference call on Wednesday when LVMH is likely to give clear guidance for Chinese demand.  LVMH is rated ‘Top Buy’ in our European Large-Cap Global Top Picks 
  • Peugeot’s (UG FP) Opel unit will cut some of its sedan and increase SUVs as a share of productions in a move being made by many automotive players.  SUVs will rise to 40% of production up from 25% for Peugeot’s Opel as customer demand shifts.  Opel will introduce electric versions across its line by 2024.  Peugeot is rated ‘Attractive’ in our European Large-Cap Global Top Picks 
  • Royal Dutch Shell’s (RDSA LN) CEO said today that in order for carbon capture technology to work in a cost-effective manner, the price for carbon emissions would need to rise to $75 per ton.  Royal Dutch Shell’s CEO pointed out that with permits trading at $25 per ton, governments would need to move that price higher; until then, it will not be viable.  Royal Dutch Shell is rated ‘Attractive’ in both our European Large-Cap and United Kingdom All-Cap Global Top Picks 

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.148
  • GBP£ is currently up +0.336% against the USD$ to 1.3134
  • CHF is currently little changed against the USD$ at 1.0076

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 2 basis points to 0.549%
  • German 10-Year Bunds are lower with yields up 2 basis points to 0.549%
  • French 10-Year Government Bonds are lower with yields up 1.5 basis points to 0.89%
  • UK 10-Year GILTs are lower with yields up 4.2 basis points to 1.716%
  • Italian 10-Year Government Bonds are higher with yields down -9.2 basis points to 3.476%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Eni SpA Energy 16.3 2.63%      17,273,869.00
Koninklijke Ahold Delhaize NV Consumer Staples 19.4 2.25%         6,137,518.00
Intesa Sanpaolo SpA Financials 2.07 2.19%    221,949,087.00
SAP SE Information Technology 104 1.72%         2,391,236.00
Banco Bilbao Vizcaya Argentaria SA Financials 5.29 1.54%    201,365,181.00
 
Underformers Sector Price 1D % Chg Volume
Cie de Saint-Gobain Industrials 34.4 -2.20%         4,055,536.00
Safran SA Industrials 112 -1.80%         1,203,547.00
BASF SE Materials 73.3 -1.25%         2,904,337.00
Airbus SE Industrials 103 -1.08%         1,306,812.00
adidas AG Consumer Discretionary 204 -0.92%            799,481.00