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European stocks plunge on fresh concerns over US-China trade

Dec 06, 2018

 

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

European Markets

  • European stocks are declining this morning with the Stoxx Europe 600 experiencing the biggest 1-day drop since the day after the BREXIT vote, with the arrest of the CFO of one of China's leading tech companies
  • Canadian authorities announced they have arrested the CFO of the Chinese technology company Huawei, Meng Wazhou, and she faces extradition to the United States.  Local traders worry this news could derail the momentum in negotiations between US and Chinese officials in the ongoing trade dispute between the two countries.  
  • The Euro Stoxx 600 is currently down -1.16%, the FTSE 100 has declined -1.44%, the DAX has fallen -1.19%, and the CAC 40 is lower by -1.36%
  • UK stocks continue their slide over worries that UK Prime Minister Theresa May won’t be able to get her BREXIT deal through Parliament – the FTSE 100 is now below its closing level at the end of 1999
  • At this time, Prime Minister May is in "listening mode", considering changes to the Brexit deal to make it more acceptable to Parliment and to avoid a crushing defeat; she has 5 days to come up with any changes
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.32x
  • Real Estate (+0.35%), Utilities (+0.13%), and Travel & Leisure (-0.08%) stocks are the top performers in the Euro Stoxx 600 today
  • Construction & Materials (-2.14%), Basic Resources (-1.93%), and Insurance (-1.82%) 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 22.80 after closing at 19.09 yesterday

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1352
  • GBP£ is currently up +0.197% against the USD$ to 1.2744
  • CHF is currently little changed against the USD$ at 1.0022

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 1.4 basis points to 0.277%
  • German 10-Year Bunds are lower with yields up 1.4 basis points to 0.277%
  • French 10-Year Government Bonds are lower with yields up 1.2 basis points to 0.679%
  • UK 10-Year GILTs are lower with yields up 3.4 basis points to 1.315%
  • Italian 10-Year Government Bonds are higher with yields down -9.5 basis points to 3.061%
  • Spanish 10-Year Government Bonds are higher with yields down -2.6 basis points to 1.459%

 

 

 

Euro Stoxx 50 Movers

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

Outperformers Sector Price 1D % Chg Volume
Intesa Sanpaolo SpA Industrials 2.05 0.80%            819,207.00
Enel SpA Industrials 4.81 0.67%                  248,138
Bayer AG Information Technology 65.2 0.43%                     65,264
Orange SA Materials 14.7 0.41%                     41,997
Iberdrola SA Consumer Staples 6.59 0.15%               8,938,036
 
Underperformers Sector Price 1D % Chg Volume
AXA SA Health Care 20.5 -2.78%                     78,544
Vinci SA Consumer Discretionary 73.4 -2.61%               1,291,965
ASML Holding NV Health Care 147 -2.51%                     20,315
CRH PLC Telecommunication Services 23.2 -2.38%                     12,069
Safran SA Industrials 108 -2.37%                     14,190