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European stocks falling as weak EU industrial production data weighs on investor sentiment

Jan 14, 2019

 

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

European Markets

  • European stocks are falling to start the week as weak EU industrial prodcution data and weak China trade data weigh on investor sentiment
  • EU industrial prodution contracted 1.7% in December, worse than the 1.5% contraction expected
  • China saw a significant drop in trade in December as the trade war takes its toll-exports (in dollar terms) fell 4.4% y/y while imports fell 7.6% y/y; the data raised concerns over Chinese industrial production and employment
  • The Euro Stoxx 600 is currently down -0.83%, the FTSE 100 has declined -1.06%, the DAX has fallen -0.69%, and the CAC 40 is lower by -0.86%
  • Morgan Stanley stocks strategists argue that UK stocks are trading at attractive valuations following the 4Q sell-off with the median dividend yield now close to 4.3%, a 25-year high (excluding C3Q2008/C1Q2009)
  • The partial US government shutdown is the longest in modern history and continues to weigh on investor sentiment 
  • Fundstrat’s Tom Lee argues that value stocks are poised to outperform growth stocks in CY2019 
  • JP Morgan speculates that the current cuts to oil production by OPEC+ is meant to create a USD$60/barrel floor for global oil  
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.17x
  • Automobiles & Parts (-0.05%), Real Estate (-0.15%), and Insurance (-0.5%) stocks are the top performers in the Euro Stoxx 600 today
  • Technology (-1.31%), Personal & Household Goods (-1.12%), and Health Care (-1.08%) stocks are the worst performers in the Euro Stoxx 600 today
  • 233 stocks in the Euro Stoxx 600 are at 4-week highs while 6 stocks are at 4-week lows
  • 9 stocks in the Euro Stoxx 600 are overbought while 1 stock are oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, is moving up this morning and is currently at 18.54 after closing at 17.42 last week

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1466
  • GBP£ is currently up +0.171% against the USD$ to 1.2866
  • CHF is currently up +0.187% against the USD$ to 1.0186

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -2.6 basis points to 0.157%
  • German 10-Year Bunds are higher with yields down -2.9 basis points to 0.21%
  • French 10-Year Government Bonds are higher with yields down -3.1 basis points to 0.633%
  • UK 10-Year GILTs are higher with yields down -3.2 basis points to 1.258%
  • Italian 10-Year Government Bonds are lower with yields up 3.1 basis points to 2.885%
  • Spanish 10-Year Government Bonds are higher with yields down -2.4 basis points to 1.421%

 

 

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Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Airbus SE Industrials 89.6 1.31%                  414,781
Volkswagen AG Consumer Staples 143 0.30%                  375,951
Safran SA Industrials 106 0.14%                  201,262
CRH PLC Telecommunication Services 24.5 0.08%                     97,544
Unibail-Rodamco-Westfield Telecommunication Services 144 0.06%                  201,604
 
Underperformers Sector Price 1D % Chg Volume
LVMH Moet Hennessy Louis Vuitton SE Consumer Discretionary 251 -2.85%                  210,190
Amadeus IT Group SA Materials 60.2 -2.78%                  169,140
Intesa Sanpaolo SpA Industrials 1.97 -2.28%            48,155,346
Banco Santander SA Health Care 4.19 -2.11%               9,791,082
Banco Bilbao Vizcaya Argentaria SA Information Technology 4.94 -1.99%               4,987,450

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