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European stocks close mixed swinging between gains and losses

Nov 23, 2018

 

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

European Markets

  • European stocks close mixed in a day that swung between gains and losses with energy shares leading the losses as oil plunged
  • Overall sentiment had a positive bias as evidenced by the advanced/decline ratio
  • The Euro Stoxx 600 closed up +0.4%, the FTSE 100 declined -0.11%, the DAX rose +0.49%, and the CAC 40 finished up +0.18%
  • Investor sentiment for European stocks finished trading positive with the advance/decline ratio for the Euro Stoxx 600 currently at 2.45x
  • Health Care (+1.32%), Travel & Leisure (+1.22%), and Media (+1.02%) stocks were the top performers in the Euro Stoxx 600 today
  • Oil & Gas (-2.72%), Basic Resources (-2.62%), and Utilities (+0.1%) stocks were the worst performers in the Euro Stoxx 600 today
  • 17 stocks in the Euro Stoxx 600 hit 4-week highs while 73 stocks closed at 4-week lows
  • 5 stocks in the Euro Stoxx 600 finished the trading session overbought while 65 stocks closed oversold according to the 16-day RSI Measure

Stocks Trending in the News

Click name for Q-Factor score and financial data

  • Autogrill (BIT: AGL) shares are trading higher after the company announced yesterday of plans to appoint a new chairman of the Board of Directors this upcoming December. News of the new appointment comes after the recent and premature death of former Chairman Gilberto Benetton. Autogrill is rated “Neutral” in our European SMID-Cap Global Top Stock Ideas.
  • BP (BP LN) is pumping the first oil from its Clair Ridge development in the North Sea.  BP has spent 7 years and USD$6 billion to get oil deep in the frigid waters in the North Sea.  The Clair Ridge field is expected to hold 640 million barrels of recoverable resources and about 45% will go to BP.   Clair Ridge will double BP’s output from the North Sea to around 200,000 bpd when fully operational.  BP is rated “Neutral” in our United Kingdom All-Cap Global Top Stock Ideas.
  • Danske Bank (DANSKE DC) was not the only bank involving in the suspected USD$230 billion of suspicious transactions, according to a whistle blower at the heart of the case.  In testimony this week the individual indicated seven correspondent banks were involved in the transaction, not just Danske Bank.   Additional names of banks are expected to come out as the investigation progresses.  Danske Bank is rated “Top Short” in our European Large-Cap Global Top Stock Ideas.
  • Deutsche Post (DPW GR) was reiterated as buy at UBS today.  USB likes Deutsche Post because of its broader geographical reach.  This reach will allow Deutsche Post to be well placed in the event of any tariff-related moderations in volumes.  Deutsche Post is rated “Unattractive” in our European Large-Cap Global Top Stock Ideas.
  • Porsche (PAH3 GR) plans a USD$6.8 billion operating profit improvement according to a report in Bloomberg today.  Porsche will streamline operations as it looks to develop and manufacture more electric cars.  The Porsche plan is an 8 year plan that should be voted on by the Board in the near future.  Porsche is rated “Top Short” in our European Large-Cap Global Top Stock Ideas.
  • Tencent (700 HK) backed Meittuan Dianping (3690 HK) plunged in overnight trading after reporting an operating loss of UD$498mn, triple a year ago.  Meittuan Dianping is battling Alibaba (BABA) in the food delivery business.  The overnight sell-off of Meittuan Dianping is its biggest since its USD$4.2 billion IPO.  Meittuan Dianping is down 20% from its IPO price.  Meittuan Dianping is rated “Top Short” in our China All-Cap Global Top Stock Ideas.  Tencent is rated “Attractive” in our China All-Cap Global Top Stock Ideas.  Alibaba is rated “Neutral” in our China All-Cap Global Top Stock Ideas.
  • UBS (UBS SW) had it price target cut to CHF18 from CHF17 by RBC today.  RBC reiterated its sector perform rating for UBS.   RBC cut expected revenue from UBS as it sees a more challenging environment for both levels of transactions and its investment banking business.  There is downside risk to UBS’ consensus estimates, in RBC’s opinion.  UBS is rated “Neutal” in our European Large-Cap Global Top Stock Ideas.

What is Going on with European Currencies?

  • EUR€ is currently down -0.631% against the USD$ to 1.1331
  • GBP£ is currently down -0.551% against the USD$ to 1.2806
  • CHF is currently down -0.269% against the USD$ to 1.0023
     

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -3 basis points to 0.34%
  • German 10-Year Bunds are higher with yields down -3 basis points to 0.34%
  • French 10-Year Government Bonds are higher with yields down -2.9 basis points to 0.721%
  • UK 10-Year GILTs are higher with yields down -4.7 basis points to 1.381%
  • Italian 10-Year Government Bonds are higher with yields down -4.7 basis points to 3.407%
  • Spanish 10-Year Government Bonds are higher with yields down -0.5 basis points to 1.632%
     

 

Euro Stoxx 50 Movers

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

Outperformers Sector Price 1D % Chg Volume
Safran SA Industrials 109 2.25%                  554,290
CRH PLC Materials 24.4 2.09%                  774,174
Cie de Saint-Gobain Industrials 31.8 2.01%               2,094,141
Sanofi Health Care 79.5 1.52%               1,695,492
Nokia OYJ Information Technology 4.86 1.48%            13,235,743
 
Underperformers Sector Price 1D % Chg Volume
TOTAL SA Energy 47.6 -3.01%               7,910,692
Eni SpA Energy 14.1 -1.79%            15,627,788
Deutsche Bank AG Financials 8.17 -0.75%               8,869,065
Volkswagen AG Consumer Discretionary 151 -0.62%               1,017,688
Engie SA Utilities 12.1 -0.45%               3,531,103