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Brexit concerns and higher crude price push European stocks lower

Nov 12, 2018

 

 

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

European Markets

  • European stocks are edging down to the start the week with Brexit fears and higher crude prices weighing on markets
  • There is growing concerns that UK Prime Minister Theresa May’s plan for a imminent BREXIT deal is falling apart following limited parliamentary support 
  • The Euro Stoxx 600 is currently down -0.31%, the FTSE 100 has declined -0.01%, the DAX has fallen -0.71%, and the CAC 40 is lower by -0.15%
  • The Stoxx Europe 600 hit its 50%-Fibonacci retracement level today, with the technical indicator appearing to be a resistance levels for the European broad market index 
  • Of the 192 stocks in the MSCI Europe that reported 3Q earnings results, 50% beat expectations while 8% were in-line with market forecasts.  In comparison, of the 241 stocks in MSCI Europe that reported 3Q Sales results, only 22% beat market expectations while 55% were in-line with market forecasts. 
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.47x
  • Oil & Gas (+1.18%), Basic Resources (+1.09%), and Media (+0.19%) stocks are the top performers in the Euro Stoxx 600 today
  • Personal & Household Goods (-1.65%), Technology (-1.62%), and Real Estate (-0.96%) stocks are the worst performers in the Euro Stoxx 600 today
  • 85 stocks in the Euro Stoxx 600 are at 4-week highs while 26 stocks are at 4-week lows
  • 29 stocks in the Euro Stoxx 600 are overbought while 13 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is little changed this morning and is currently at 16.92 after closing at 16.38 yesterday
  • Hedging costs for the FTSE 100 is at highest level (relative to the VSTOXX) since July 2018 as opposition to UK Prime Minister Theresa May builds
     

What is Going on with European Currencies?

  • EUR€ is currently down -0.679% against the USD$ to 1.1259
  • GBP£ is currently down -0.732% against the USD$ to 1.2877
  • CHF is currently down -0.412% against the USD$ to 0.9903

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -2.2 basis points to 0.385%
  • German 10-Year Bunds are higher with yields down -2.2 basis points to 0.385%
  • French 10-Year Government Bonds are higher with yields down -1.9 basis points to 0.768%
  • UK 10-Year GILTs are higher with yields down -4.6 basis points to 1.445%
  • Italian 10-Year Government Bonds are lower with yields up 3 basis points to 3.434%
  • Spanish 10-Year Government Bonds are higher with yields down -1.1 basis points to 1.587%

 

 

 

Euro Stoxx 50 Movers

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

Outperformers Sector Price 1D % Chg Volume
Banco Bilbao Vizcaya Argentaria SA Financials 5.013 2.37% 12,280,746
Air Liquide SA Materials 107.55 1.08% 224,757
Eni SpA Energy 15.628 1.06% 3,377,849
Vivendi SA Consumer Discretionary 21.57 0.89% 772,980
TOTAL SA Energy 50.97 0.87% 1,612,776
 
Underperformers Sector Price 1D % Chg Volume
SAP SE Information Technology 91.94 -3.10% 1,960,544
Intesa Sanpaolo SpA Financials 1.9718 -1.43% 30,324,686
Bayer AG Health Care 69.9 -1.34% 762,291
Unibail-Rodamco-Westfield Real Estate 159.56 -1.15% 89,195
BNP Paribas SA Financials 45.81 -1.05% 964,219