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Early gains turn to losses for European stocks as trade hope fades

Nov 16, 2018

 

 

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

European Markets

  • European stocks are lower today, well off their early morning highs following comments by US Commerce Secretary Wilbur Ross walk back optimism for a US-China trade deal at the G20 summit in Argentina 
  • The Euro Stoxx 600 is currently up +0.01%, the FTSE 100 has declined -0.31%, the DAX has advanced +0.08%, and the CAC 40 is lower by -0.11%
  • According to Bloomberg, stocks strategists still need to adjust price targets for major benchmark stocks indices – the average CY2018 price target for the Euro Stoxx 50 implies an 8% rally into year-end; the average CY2018 price target for the DAX implies an 11% rally into year-end 
  • iShares MSCI Spain (EWP) added USD$64.1 million in inflows yesterday, increasing total assets by 7.5% to USD$914.2mm, the highest level since early October
  • Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 1.27x
  • Media (+0.89%), Financial Services (+0.78%), and Basic Resources (+0.74%) stocks are the top performers in the Euro Stoxx 600 today
  • Banks (-0.7%), Real Estate (-0.52%), and Technology (-0.51%) stocks are the worst performers in the Euro Stoxx 600 today
  • 56 stocks in the Euro Stoxx 600 are at 4-week highs while 68 stocks are at 4-week lows
  • 8 stocks in the Euro Stoxx 600 are overbought while 38 stocks are oversold according to the 16-day RSI Measure

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1332
  • GBP£ is currently up +0.384% against the USD$ to 1.2823
  • CHF is currently little changed against the USD$ at 0.9924

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 0.8 basis points to 0.368%
  • German 10-Year Bunds are lower with yields up 0.8 basis points to 0.368%
  • French 10-Year Government Bonds are lower with yields up 0.6 basis points to 0.757%
  • UK 10-Year GILTs are lower with yields up 3.6 basis points to 1.409%
  • Italian 10-Year Government Bonds are higher with yields down -6.1 basis points to 3.432%
  • Spanish 10-Year Government Bonds are higher with yields down -0.5 basis points to 1.626%

 

 

 

Euro Stoxx 50 Movers

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

Outperformers Sector Price 1D % Chg Volume
Vivendi SA Consumer Discretionary 21.9 4.19%               3,458,487
E.ON SE Utilities 9.14 1.96%               6,332,197
Enel SpA Utilities 4.51 1.66%            14,505,450
Deutsche Telekom AG Telecommunication Services 15.1 1.24%               9,193,011
Sanofi Health Care 78.91 0.95%                  919,917
 
Underperformers Sector Price 1D % Chg Volume
ASML Holding NV Information Technology 148 -1.88%                  990,180
Bayer AG Health Care 62.2 -1.28%               2,272,385
CRH PLC Materials 24.3 -1.13%                  600,632
Intesa Sanpaolo SpA Financials 1.93 -1.09%            69,924,874
Air Liquide SA Materials 105 -0.99%                  337,084