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European stocks open year lower on weak Chinese economic data

Jan 02, 2019

 

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

European Markets

  • European stocks open 2019 negative to start the year after a weak PMI reading out of China spooks investors, feeding fears of a global growth slowdown
  • The UK manufacturing PMI unexpectedly improved to 54.2 in December while 52.5 was expected
  • The Euro Stoxx 600 is currently down -0.75%, the FTSE 100 has declined -0.65%, the DAX has fallen -0.23%, and the CAC 40 is lower by -1.52%
  • Italian stocks are the cheapest they have been since August 2012 based on the Forward 12-month P/E valuation metric, though in relation to the Euro Stoxx 600, its relative cheapness narrowed over the course of C4Q2018
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.58x
  • Health Care (+0.09%), Utilities (-0.22%), and Retail (-0.23%) stocks are the top performers in the Euro Stoxx 600 today
  • Basic Resources (-3.38%), Automobiles & Parts (-2.2%), and Banks (-1.72%) stocks are the worst performers in the Euro Stoxx 600 today
  • 7 stocks in the Euro Stoxx 600 are at 4-week highs while 3 stocks are at 4-week lows
  • 2 stocks in the Euro Stoxx 600 are overbought while 15 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 24.08 after closing at 23.86 Friday

What is Going on with European Currencies?

  • EUR€ is currently down -0.427% against the USD$ to 1.1416
  • GBP£ is currently down -0.675% against the USD$ to 1.2654
  • CHF is currently down -0.363% against the USD$ to 1.0149

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -8.1 basis points to 0.161%
  • German 10-Year Bunds are higher with yields down -8.1 basis points to 0.161%
  • French 10-Year Government Bonds are higher with yields down -6.1 basis points to 0.649%
  • UK 10-Year GILTs are higher with yields down -8.2 basis points to 1.195%
  • Italian 10-Year Government Bonds are higher with yields down -2.6 basis points to 2.716%
  • Spanish 10-Year Government Bonds are higher with yields down -1.9 basis points to 1.397%

 

 

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Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
adidas AG Financials 186 2.17%                  320,224
Fresenius SE & Co KGaA Telecommunication Services 43 1.56%                  660,383
Bayer AG Information Technology 61 0.69%               1,059,506
Koninklijke Ahold Delhaize NV Consumer Discretionary 22.2 0.52%               1,167,101
Amadeus IT Group SA Materials 61.2 0.46%               1,568,061
 
Underperformers Sector Price 1D % Chg Volume
Societe Generale SA Energy 27 -2.91%               1,446,732
BNP Paribas SA Financials 38.4 -2.67%               1,539,913
Unibail-Rodamco-Westfield Telecommunication Services 132 -2.56%                  275,666
Volkswagen AG Consumer Staples 136 -2.48%                  524,452
Intesa Sanpaolo SpA Industrials 1.9 -2.30%            46,072,071

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