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European stocks rally, positive trade news fueling risk-on sentiment

Dec 11, 2018

 

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

European Markets

 

  • European stocks are advancing this morning following a report by Bloomberg News that China is moving forward with a cut to tariffs on cars imported from the US, the positive trade news is fueling risk-on sentiment across the continent
  • The Chinese government made a formal statement announcing that Vice Premier Liu He spoke with US Secretary of Treasury Steven Mnuchin and US Trade Representative Robert Lighthizer by phone – this news has put a bid into global markets as there is hope that the US and China will be able to work through their differences and avoid fallout from the news that the CFO of Huawei was arrested by Canadian authorities at the suggestion of US officials
  • UK Prime Minister Theresa May will tour the capitals of the EU seeking concessions to get her Brexit deal passed in Parliment, European Commission Juncker said no renegotiations are possible though he allows for "clarifications"
  • The Euro Stoxx 600 is currently up +1.7%, the FTSE 100 is higher by +1.39%, the DAX has advanced +1.87%, and the CAC 40 has risen +1.83%
  • According to the 14-day RSI signal, the Stoxx Europe 600 is now in oversold territory after formally erasing 2-years' worth of gains yesterday 
  • The Russian government announces it will begin a gradual reduction in its daily crude oil production with the goal of oil reducing it by 50,000 to 60,000 barrels/day by January while Saudi Arabia is expected to cut its production by 900,000 barrels/day by January
  • Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 9.53x
  • Basic Resources (+2.91%), Construction & Materials (+2.54%), and Automobiles & Parts (+2.38%) stocks are the top performers in the Euro Stoxx 600 today
  • Real Estate (+0.26%), Insurance (+0.74%), and Food & Beverage (+0.96%) stocks are the worst performers in the Euro Stoxx 600 today
  • 6 stocks in the Euro Stoxx 600 are at 4-week highs while 276 stocks are at 4-week lows
  • 3 stocks in the Euro Stoxx 600 are overbought while 132 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 +0.317% against the USD$ to 1.1392
  • GBP£ is currently up +0.358% against the USD$ to 1.2606
  • CHF is currently up +0.277% against the USD$ to 1.0125
     

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 1.7 basis points to 0.263%
  • German 10-Year Bunds are lower with yields up 1.7 basis points to 0.263%
  • French 10-Year Government Bonds are lower with yields up 3.1 basis points to 0.725%
  • UK 10-Year GILTs are lower with yields up 2.5 basis points to 1.224%
  • Italian 10-Year Government Bonds are lower with yields up 1.9 basis points to 3.125%
  • Spanish 10-Year Government Bonds are lower with yields up 1 basis points to 1.453%

 

 

 

Euro Stoxx 50 Movers

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

Outperformers Sector Price 1D % Chg Volume
Bayer AG Information Technology 63.5 4.75%               1,446,130
Volkswagen AG Consumer Staples 147 3.77%                  520,976
Linde PLC Real Estate 141 3.37%                  248,136
CRH PLC Telecommunication Services 22.7 3.13%                  218,494
Fresenius SE & Co KGaA Telecommunication Services 40.8 2.88%                  994,258
 
Underperformers Sector Price 1D % Chg Volume
AXA SA Health Care 19.3 -0.36%               4,693,011
Unibail-Rodamco-Westfield Telecommunication Services 143 0.07%                  212,527
Industria de Diseno Textil SA Materials 26.7 0.41%                  974,150
EssilorLuxottica SA Consumer Staples 110 0.46%                  242,067
Intesa Sanpaolo SpA Industrials 1.95 0.53%            36,826,799