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European stocks lower in light volume as Italy vows to continue expansionist policies

Dec 24, 2018

 

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

European Markets

  • European stocks are trading lower this morning in very light trading with today’s Christmas Eve volume 75% below recent average
  • Italian PM Giuseppe Conte has vowed to continue his coalition's expansionist policies, despite recent negotiations with the EU over its budget  
  • Continued worries about growing crude oil supplies in the US and decelerating global growth overshadow indications from OPEC that the group may make further cuts to CY2019 production targets
  • The Euro Stoxx 600 is currently down -0.43%, the FTSE 100 has declined -0.45%, the DAX has advanced +0.21%, and the CAC 40 is lower by -1.11%
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.2x
  • Insurance (-0.04%), Chemicals (-0.15%), and Automobiles & Parts (-0.19%) stocks are the top performers in the Euro Stoxx 600 today
  • Retail (-1.44%), Personal & Household Goods (-0.98%), and Banks (-0.83%) stocks are the worst performers in the Euro Stoxx 600 today
  • 7 stocks in the Euro Stoxx 600 are at 4-week highs while 247 stocks are at 4-week lows
  • 6 stocks in the Euro Stoxx 600 are overbought while 77 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is little changed this morning and is currently at 20.39 after closing at 20.73 yesterday

What is Going on with European Currencies?

  • EUR€ is currently up +0.229% against the USD$ to 1.1398
  • GBP£ is currently little changed against the USD$ at 1.265
  • CHF is currently up +0.279% against the USD$ to 1.0077
     

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 2.2 basis points to 0.25%
  • German 10-Year Bunds are lower with yields up 2.2 basis points to 0.25%
  • French 10-Year Government Bonds are lower with yields up 2 basis points to 0.697%
  • UK 10-Year GILTs are higher with yields down -4.8 basis points to 1.273%
  • Italian 10-Year Government Bonds are lower with yields up 9.3 basis points to 2.831%
  • Spanish 10-Year Government Bonds are lower with yields up 2.7 basis points to 1.401%

 

 

 

Euro Stoxx 50 Movers

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

Outperformers Sector Price 1D % Chg Volume
Deutsche Post AG Health Care 24.1 1.69%               9,461,907
BASF SE Utilities 60.7 1.62%               8,841,494
Linde PLC Real Estate 137 1.03%            10,733,083
Iberdrola SA Consumer Staples 7.07 0.83%               2,112,114
CRH PLC Telecommunication Services 22.6 0.76%                     52,991
 
Underperformers Sector Price 1D % Chg Volume
LVMH Moet Hennessy Louis Vuitton SE Consumer Discretionary 246 -2.90%                  110,753
Industria de Diseno Textil SA Materials 22.3 -2.11%                  531,664
Kering SA Consumer Staples 387 -1.94%                     33,046
Societe Generale SA Energy 27.6 -1.92%                  805,308
Unibail-Rodamco-Westfield Telecommunication Services 135 -1.57%                  140,818