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European stocks higher mid-session with positive sentiment on trade; market on pace for best week since late 2016

Nov 02, 2018

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

European Markets

  • European stocks are rising today mid-sessoion as positive sentiment on trade fuels strength
  • News that trade tensions between China and the US may be thawing is putting a bid into export-sensitive stocks 
  • European stocks are advancing this AM and poised to close the week with the biggest weekly advance since December 2016 
  • The Euro Stoxx 600 is currently up +0.98%, the FTSE 100 is higher by +0.65%, the DAX has advanced +1.39%, and the CAC 40 has risen +1.24%
  • Eurozone manufacturing PMI dropped to 52.0 for the month of October (final reading), the weakest level in more than 2 years
  • Italian manufacturing shrank for most of October, the greatest negative move in 4 years 
  • The European Banking Authority is set to release the results of its most recent stress-test of European banks after the close today – there will be no pass/fail marks with a focus now on ratios and provisions
  • Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 4.56x
  • Automobiles & Parts (+3.64%), Basic Resources (+2.66%), and Technology (+1.99%) stocks are the top performers in the Euro Stoxx 600 today
  • Food & Beverage (-0.17%), Health Care (-0.13%), and Utilities (-0.04%) stocks are the worst performers in the Euro Stoxx 600 today
  • 77 stocks in the Euro Stoxx 600 are at 4-week highs while 8 stocks are at 4-week lows
  • 6 stocks in the Euro Stoxx 600 are overbought while 16 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 19 yesterday

What is Going on with European Currencies?

  • EUR€ is currently up +0.421% against the USD$ to 1.1456
  • GBP£ is currently little changed against the USD$ at 1.3031
  • CHF is currently up +0.521% against the USD$ to 1.0031

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 3.5 basis points to 0.434%
  • German 10-Year Bunds are lower with yields up 3.5 basis points to 0.434%
  • French 10-Year Government Bonds are lower with yields up 2.6 basis points to 0.785%
  • UK 10-Year GILTs are lower with yields up 3.5 basis points to 1.49%
  • Italian 10-Year Government Bonds are higher with yields down -7.5 basis points to 3.305%
  • Spanish 10-Year Government Bonds are flat with yields little changed 0 basis points to 1.568%

Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Volkswagen AG Consumer Discretionary 158 4.57%               1,373,844
Daimler AG Consumer Discretionary 54.6 3.92%               1,861,404
ASML Holding NV Information Technology 157 3.53%                  646,756
BASF SE Materials 70.1 3.32%               1,764,190
LVMH Moet Hennessy Louis Vuitton SE Consumer Discretionary 278.45 3.15%                  296,024
 
Underperformers Sector Price 1D % Chg Volume
Sanofi Health Care 78.1 -1.20%                  630,874
Unilever NV Consumer Staples 47 -1.12%                  834,177
Orange SA Telecommunication Services 14 -0.64%               1,670,907
Industria de Diseno Textil SA Consumer Discretionary 25.3 -0.59%               2,735,408
Fresenius SE & Co KGaA Health Care 56.4 -0.18%                  514,763