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European stocks shrug off weak German data, focus on hopes for US-China trade progress

Jan 08, 2019

 

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

European Markets

  • European stocks are rising on the likelihood of US-China trade progress as the first face-to-face negotiations since December wrap up in Beijing, and ignoring weak German data
  • US-China trade talks are wrapping up today with both sides signaling progress and China is expected to make a closing statement 
  • US Commerce Secretary Wilbur Ross said yesterday, “there’s a very good chance we’ll get a reasonable settlement”
  • German industrial activity’s fall yesterday was the third month in a row activity has fallen, with analysts starting to raise the specter of recession
  • The EU and UK have discussed the possibility of extending the exit day deadline, according to a report in the Telegraph today
  • The Euro Stoxx 600 is currently up +1.08%, the FTSE 100 is higher by +0.92%, the DAX has advanced +0.85%, and the CAC 40 has risen +1.39%
  • Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 5.06x
  • Retail (+2.44%), Real Estate (+1.92%), and Industrial Goods & Services (+1.89%) stocks are the top performers in the Euro Stoxx 600 today
  • Telecommunications (-0.28%), Basic Resources (+0.37%), and Oil & Gas (+0.45%) stocks are the worst performers in the Euro Stoxx 600 today
  • 152 stocks in the Euro Stoxx 600 are at 4-week highs while 5 stocks are at 4-week lows
  • 4 stocks in the Euro Stoxx 600 are overbought while 0 stocks are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is moving down this morning and is currently at 19.26 after closing at 20.15 yesterday

What is Going on with European Currencies?

  • EUR€ is currently down -0.227% against the USD$ to 1.1448
  • GBP£ is currently down -0.219% against the USD$ to 1.2749
  • CHF is currently little changed against the USD$ at 1.0195

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 0.5 basis points to 0.226%
  • German 10-Year Bunds are lower with yields up 0.5 basis points to 0.226%
  • French 10-Year Government Bonds are lower with yields up 0.6 basis points to 0.732%
  • UK 10-Year GILTs are higher with yields down -0.1 basis points to 1.253%
  • Italian 10-Year Government Bonds are lower with yields up 1.9 basis points to 2.918%
  • Spanish 10-Year Government Bonds are higher with yields down -0.4 basis points to 1.496%

 

 

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Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Unibail-Rodamco-Westfield Telecommunication Services 143 3.83%                  363,520
Industria de Diseno Textil SA Materials 23.9 3.47%               1,942,686
Airbus SE Industrials 86.4 3.33%                  766,243
adidas AG Financials 196 3.22%                  330,584
Kering SA Consumer Staples 409 3.15%                     97,831
 
Underperformers Sector Price 1D % Chg Volume
Fresenius SE & Co KGaA Telecommunication Services 43.3 -1.48%                  855,919
Unilever NV Information Technology 46.4 -0.68%               1,605,419
Deutsche Telekom AG Financials 15 -0.40%               4,549,724
Intesa Sanpaolo SpA Industrials 2.02 -0.37%            54,972,929
Orange SA Materials 14.2 -0.25%               1,998,053

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