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European stocks lower at mid-session following US futures lower, after starting the day in the green

Nov 06, 2018

 

 

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

European Markets

  • European stocks are dropping to start the morning as the overhang of the US midterm elections weighs on investor sentiment 
  • UK Prime Minister Theresa May is holding her Cabinet meeting today to update Cabinet members about BREXIT negotiations as the UK and EU inch closer towards a deal 
  • Barclays is forecasting that UK stocks will underperform their Eurozone peers, irrespective of the outcome of BREXIT negotiations, as the investment bank expects to see the British Pound rally into year-end 
  • Bloomberg is reporting that options traders are betting that the recent calm in the MSCI Turkey iShares (TUR) will end as the cost to hedge 3-month options has steadily increased over the past few days – month to date, TUR is +12%
  • The Euro Stoxx 600 is currently down -0.28%, the FTSE 100 has declined -0.6%, the DAX has fallen -0.22%, and the CAC 40 is lower by -0.25%
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.56x
  • Industrial Goods & Services (+0.27%), Real Estate (+0.2%), and Health Care (+0.03%) stocks are the top performers in the Euro Stoxx 600 today
  • Retail (-1.2%), Telecommunications (-0.89%), and Construction & Materials (-0.73%) stocks are the worst performers in the Euro Stoxx 600 today
  • 44 stocks in the Euro Stoxx 600 are at 4-week highs while 11 stocks are at 4-week lows
  • 5 stocks in the Euro Stoxx 600 are overbought while 8 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 18.33 yesterday

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.14
  • GBP£ is currently up +0.153% against the USD$ to 1.3061
  • CHF is currently little changed against the USD$ at 0.9958

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -1.2 basis points to 0.414%
  • German 10-Year Bunds are higher with yields down -1.2 basis points to 0.414%
  • French 10-Year Government Bonds are higher with yields down -0.5 basis points to 0.786%
  • UK 10-Year GILTs are lower with yields up 1.1 basis points to 1.512%
  • Italian 10-Year Government Bonds are lower with yields up 7.2 basis points to 3.397%
  • Spanish 10-Year Government Bonds are lower with yields up 0.7 basis points to 1.573%

 

 

 

Euro Stoxx 50 Movers

In local currency.
On Mobile/Tablet scroll to the right.

Outperformers Sector Price 1D % Chg Volume
Deutsche Post AG Industrials 28.9 3.33%               1,994,850
Airbus SE Industrials 96.5 1.27%                  403,822
L'Oreal SA Consumer Staples 204 1.14%                  152,317
Volkswagen AG Consumer Discretionary 157 0.69%                  555,786
Fresenius SE & Co KGaA Health Care 54.36 0.48%                  533,409
 
Underperformers Sector Price 1D % Chg Volume
E.ON SE Utilities 8.47 -3.22%               9,592,885
CRH PLC Materials 26.1 -1.81%                  443,185
Telefonica SA Telecommunication Services 7.3 -1.70%               5,322,567
Industria de Diseno Textil SA Consumer Discretionary 24.9 -1.66%            13,697,681
Banco Bilbao Vizcaya Argentaria SA Financials 5.12 -1.63%               4,689,883