blog

Latest from the Quantamize Blog

European stock losses limited as China pledges to start delivering trade commitments

Dec 05, 2018

 

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

European Markets

  • European shares are lower mid-session, but losses are not as severe as in US markets yesterday, after China indicated it will start to deliver on trade commitments
  • UK's Theresa May was forced to hand Parilment the legal opinion she received on Brexit in the wake her defeat in Parliment yesterday (please see European recap 12/4).  The advice says that the temporary arrangement with the Irish border could remain indefinitely and that the agreement does not compel the EU to come to any final resolution on Brexit, further complicating her efforts to pass the agreement
  • China's Ministry of Commerce released a statement saying the country will move forward on items where there is consensus and continue negotiations with the US within the 90-day "timetable and road map", further commenting that the meeting with President Trump was "very successful" and that it is "confident" items agreed upon can be implemented, without getting into details
  • China's Ministry of Affairs released a statement saying it hopes to speed up talks and find a resolution for the open items
  • China is preparing to resume imports of soybeans and liquified natural gas from the US according to media reports
  • The Euro Stoxx 600 is currently down -0.79%, the FTSE 100 has declined -1.2%, the DAX has fallen -0.82%, and the CAC 40 is lower by -0.92%
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.44x
  • Real Estate (+0.56%), Retail (+0.33%), and Travel & Leisure (+0.23%) stocks are the top performers in the Euro Stoxx 600 today
  • Insurance (-1.62%), Technology (-1.53%), and Construction & Materials (-1.34%) stocks are the worst performers in the Euro Stoxx 600 today
  • 29 stocks in the Euro Stoxx 600 are at 4-week highs while 65 stocks are at 4-week lows
  • 10 stocks in the Euro Stoxx 600 are overbought while 27 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is higher this morning and is currently at 18.19 after closing at 17.21 yesterday

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1352
  • GBP£ is currently up +0.44% against the USD$ to 1.2775
  • CHF is currently little changed against the USD$ at 1.0025

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -0.5 basis points to 0.258%
  • German 10-Year Bunds are higher with yields down -0.5 basis points to 0.258%
  • French 10-Year Government Bonds are lower with yields up 0.1 basis points to 0.668%
  • UK 10-Year GILTs are lower with yields up 3.7 basis points to 1.318%
  • Italian 10-Year Government Bonds are higher with yields down -7.9 basis points to 3.077%
  • Spanish 10-Year Government Bonds are higher with yields down -3.1 basis points to 1.454%

 

 

 

Euro Stoxx 50 Movers

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

Outperformers Sector Price 1D % Chg Volume
Volkswagen AG Consumer Discretionary 151 1.71% 499,162
Bayer AG Health Care 65.95 0.93% 1,769,028
Deutsche Bank AG Financials 8.134 0.74% 6,154,382
Orange SA Telecommunication Services 14.82 0.64% 2,628,475
Bayerische Motoren Werke AG Consumer Discretionary 74.94 0.64% 549,145
 
Underperformers Sector Price 1D % Chg Volume
Cie de Saint-Gobain Industrials 31.02 -3.27% 948,376
AXA SA Financials 20.66 -2.80% 3,332,809
Allianz SE Financials 184.1 -2.19% 481,964
SAP SE Information Technology 90.03 -2.19% 834,752
Munich Re Financials 191.7 -1.87% 205,656