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European stocks open week lower as festering trade concerns weigh on sentiment

Dec 10, 2018

 

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

European Markets

  • European stocks are declining to start the week as escalating trade tensions between the US and China continue to weigh on investor sentiment
  • The Euro Stoxx 600 is currently down -0.67%, the FTSE 100 has declined -0.11%, the DAX has fallen -0.52%, and the CAC 40 is lower by -0.47%
  • European stocks strategists are arguing the current risk premiums in the stock market is overpriced with the Stoxx Europe 600 having now erased 2 years' worth of gains
  • Earlier this morning, UK Prime Minister Theresa May decided to delay the vote on her proposed BREXIT deal in the House of Commons, in order to avoid a crushing defeat in Parliment
  • Europe's top court issued a ruling that the UK could reverse its Brexit decision at any time, stating "The UK is free to revoke unilaterally the notification of its intention to withdraw from the EU."
  • Emerging Markets stocks ETFs saw positive fund flows of USD$1.46 billion last week even though the MSCI EM ETF (EEM) finished down 2.92% for the week
  • Global oil prices are trading down today over worries about the fallout of rising tensions between the US and China as the market awaits OPEC’s cut to production
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.23x
  • Oil & Gas (-1.09%), Telecommunications (-0.78%), and Basic Resources (-0.95%) stocks are the top performers in the Euro Stoxx 600 today
  • Automobiles & Parts (-1.29%), Food & Beverage (-0.44%), and Utilities (-0.65%) stocks are the worst performers in the Euro Stoxx 600 today
  • 13 stocks in the Euro Stoxx 600 are at 4-week highs while 96 stocks are at 4-week lows
  • 3 stocks in the Euro Stoxx 600 are overbought while 84 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is moving moving up this morning and is currently at 22.81 after closing at 21.67 last week

What is Going on with European Currencies?

  • EUR€ is currently up +0.316% against the USD$ to 1.1415
  • GBP£ is currently down -0.393% against the USD$ to 1.2676
  • CHF is currently up +0.228% against the USD$ to 1.0113

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 0.3 basis points to 0.252%
  • German 10-Year Bunds are lower with yields up 0.3 basis points to 0.252%
  • French 10-Year Government Bonds are lower with yields up 2 basis points to 0.708%
  • UK 10-Year GILTs are higher with yields down -4.2 basis points to 1.223%
  • Italian 10-Year Government Bonds are higher with yields down -3.7 basis points to 3.095%
  • Spanish 10-Year Government Bonds are higher with yields down -1.2 basis points to 1.439%
     

 

 

 

Euro Stoxx 50 Movers

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

Outperformers Sector Price 1D % Chg Volume
Fresenius SE & Co KGaA Telecommunication Services 41 5.23%         2,325,030.00
Enel SpA Industrials 4.79 0.84%               9,638,896
SAP SE Industrials 89.4 0.82%                  489,193
Sanofi Consumer Discretionary 77 0.60%                  291,622
Nokia OYJ Financials 4.91 0.24%               7,202,604
 
Underperformers Sector Price 1D % Chg Volume
BASF SE Utilities 57.8 -4.73%               4,237,015
Kering SA Consumer Staples 387 -1.95%                     41,677
LVMH Moet Hennessy Louis Vuitton SE Consumer Discretionary 246 -1.80%                  120,314
AXA SA Health Care 19.4 -1.52%               1,587,153
Air Liquide SA Financials 104 -1.47%                  125,948