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European stocks rally on improved trade sentiment and Italian budget progress

Dec 12, 2018

 

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

European Markets

  • European stocks are rallying today on reported progress in China-US trade negotiations as well as reported progress on Italy-EU budget negotiations
  • The CFO of Huawei was granted bail in Canada; President Trump said he would intervene in the case if it means completing a trade agreement with China
  • Italy is proposing a 2% budget deficit to the EU, bringing it within EU budget rules, according to press reports this morning
  • In the UK, Conservatives call for a vote of confidence on Prime Minister May's Brexit plan
  • 2 German leading economic institutes note the German economic boom has passed, but forward growth will be moderate with low risk of recession
  • The Euro Stoxx 600 is currently up +1.33%, the FTSE 100 is higher by +1.29%, the DAX has advanced +1.29%, and the CAC 40 has risen +1.92%
  • Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 7.57x
  • Utilities (+2.46%), Banks (+1.95%), and Basic Resources (+1.9%) stocks are the top performers in the Euro Stoxx 600 today
  • Retail (-0.28%), Health Care (+0.77%), and Construction & Materials (+0.95%) stocks are the worst performers in the Euro Stoxx 600 today
  • 20 stocks in the Euro Stoxx 600 are at 4-week highs while 137 stocks are at 4-week lows
  • 4 stocks in the Euro Stoxx 600 are overbought while 68 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is moving moving down this morning and is currently at 19.90 after closing at 21.09 yesterday

What is Going on with European Currencies?

  • EUR€ is currently up +0.247% against the USD$ to 1.1345
  • GBP£ is currently up +0.801% against the USD$ to 1.2587
  • CHF is currently little changed against the USD$ at 1.0053
     

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 2.1 basis points to 0.253%
  • German 10-Year Bunds are lower with yields up 2.1 basis points to 0.253%
  • French 10-Year Government Bonds are higher with yields down -1.3 basis points to 0.7%
  • UK 10-Year GILTs are lower with yields up 4 basis points to 1.228%
  • Italian 10-Year Government Bonds are higher with yields down -12.9 basis points to 2.993%
  • Spanish 10-Year Government Bonds are higher with yields down -4.8 basis points to 1.389%
     

 

 

 

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 42.4 6.88%               1,692,061
Engie SA Industrials 12.6 3.06%               1,857,439
Unibail-Rodamco-Westfield Telecommunication Services 148 3.00%                  224,840
Intesa Sanpaolo SpA Industrials 1.99 2.96%            40,487,754
Enel SpA Industrials 4.95 2.89%            20,574,132
 
Underperformers Sector Price 1D % Chg Volume
Industria de Diseno Textil SA Materials 25.1 -4.79%               4,761,297
Deutsche Post AG Health Care 25 -1.15%               3,403,365
CRH PLC Telecommunication Services 22.5 -0.31%                  328,535
Anheuser-Busch InBev SA/NV Energy 63.2 0.41%                  758,865
adidas AG Financials 199 0.63%                  224,949