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European stocks higher, catch a bid to start the week, with HSBC's earnings beat bringing confidence back to the market

Oct 29, 2018

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

European Markets

  • European stocks appear to have found a “bid” to start the week following better than expected earnings from HSBC Holdings (HSBA LN) and a rally in European auto stocks following news that Chinese officials are considering cutting the sales tax applied to new car sales in half
  • German political landscape further upset as CDU and SPD lose big in Hesse election.  Greens and AfD gain, but AfD less than expected.  Merkel, after 2 decades as chair of the CDU, will resign as chair in December
  • The Euro Stoxx 600 is currently up +0.96%, the FTSE 100 is higher by +1.32%, the DAX has advanced +1.21%, and the CAC 40 has risen +0.26%
  • Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 4.61x
  • Banks (+1.81%), Health Care (+1.65%), and Automobiles & Parts (+1.37%) stocks are the top performers in the Euro Stoxx 600 today
  • Food & Beverage (-0.03%), Personal & Household Goods (+0.16%), and Retail (+0.19%) stocks are the worst performers in the Euro Stoxx 600 today
  • 8 stocks in the Euro Stoxx 600 are at 4-week highs while 161 stocks are at 4-week lows
  • 4 stocks in the Euro Stoxx 600 are overbought while 169 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, moving down this morning and is currently at 21.84 after closing at 23.74 last week

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1388
  • GBP£ is currently little changed against the USD$ at 1.2821
  • CHF is currently down -0.299% against the USD$ to 0.9999

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 3.6 basis points to 0.388%
  • German 10-Year Bunds are lower with yields up 3.6 basis points to 0.388%
  • French 10-Year Government Bonds are lower with yields up 1.3 basis points to 0.751%
  • UK 10-Year GILTs are lower with yields up 2.1 basis points to 1.404%
  • Italian 10-Year Government Bonds are higher with yields down -10.6 basis points to 3.34%
  • Spanish 10-Year Government Bonds are higher with yields down -3 basis points to 1.537%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Intesa Sanpaolo SpA Financials 2 3.21% 46,509,425
CRH PLC Materials 24.84 2.67% 118,119
Bayer AG Health Care 67.9 2.60% 554,496
Banco Santander SA Financials 4.1185 2.18% 11,508,301
Volkswagen AG Consumer Discretionary 142.08 2.10% 329,806
 
Underformers Sector Price 1D % Chg Volume
Vinci SA Industrials 76.46 -1.27% 29,452
Unilever NV Consumer Staples 47.095 -1.16% 132,798
Koninklijke Ahold Delhaize NV Consumer Staples 19.9 -1.09% 119,941
Orange SA Telecommunication Services 13.55 -0.99% 125,857
Safran SA Industrials 108.9 -0.73% 36,136