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Early gains give way to losses for European stocks as bump from Chinese stimulus announcement fades

Jan 15, 2019

 

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

European Markets

  • German GDP Growth expanded 1.5% in CY2018, the slowest pace in 5 years and compares to 2.2% growth in CY2017
  • The Euro Stoxx 600 is currently down -0.03%, the FTSE 100 is higher by +0.09%, the DAX has fallen -0.24%, and the CAC 40 is lower by -0.07%
  • Members of Parliament was expected to vote down UK Prime Minister Theresa May’s BREXIT plan later today (in the evening London time)
  • NYMEX gasoline crack spreads, a measure of profitability for US refiners, is trading at lowest levels in 3 years with rising domestic stockpiles weigh downstream products prices
  • Chinese officials said that the Chinese government is considering tax cuts on a “large scale” to stimulate economic growth
  • Investor sentiment for European stocks is neutral with the advance/decline ratio for the Euro Stoxx 600 currently at 1.11x
  • Industrial Goods & Services (+0.52%), Basic Resources (+0.46%), and Financial Services (+0.34%) stocks are the top performers in the Euro Stoxx 600 today
  • Telecommunications (-0.98%), Travel & Leisure (-0.6%), and Banks (-0.54%) stocks are the worst performers in the Euro Stoxx 600 today
  • 50 stocks in the Euro Stoxx 600 are at 4-week highs while 26 stocks are at 4-week lows
  • 7 stocks in the Euro Stoxx 600 are overbought while 2 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 0 after closing at 17.9 yesterday
     

What is Going on with European Currencies?

  • EUR€ is currently down -0.375% against the USD$ to 1.1426
  • GBP£ is currently down -0.194% against the USD$ to 1.2839
  • CHF is currently down -0.52% against the USD$ to 1.0141
     

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 2.9 basis points to 0.207%
  • German 10-Year Bunds are higher with yields down -2.4 basis points to 0.207%
  • French 10-Year Government Bonds are higher with yields down -1.4 basis points to 0.626%
  • UK 10-Year GILTs are higher with yields down -2.4 basis points to 1.273%
  • Italian 10-Year Government Bonds are lower with yields up 0.7 basis points to 2.85%
  • Spanish 10-Year Government Bonds are higher with yields down -3.6 basis points to 1.383%
     
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Euro Stoxx 50 Movers

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

Outperformers Sector Price 1D % Chg Volume
Airbus SE Industrials 91.6 1.85%                  755,717
Amadeus IT Group SA Materials 60.7 1.72%                  146,418
Deutsche Post AG Health Care 25.3 1.53%               2,700,894
Safran SA Industrials 107 1.47%                  245,696
Volkswagen AG Consumer Staples 146 1.05%                  665,226
 
Underperformers Sector Price 1D % Chg Volume
Intesa Sanpaolo SpA Industrials 1.94 -1.98%            87,238,513
Fresenius SE & Co KGaA Telecommunication Services 42.7 -1.75%                  512,345
Unibail-Rodamco-Westfield Telecommunication Services 142 -1.35%                  198,992
Orange SA Materials 13.4 -1.33%               2,916,724
Telefonica SA Financials 7.54 -1.14%               3,723,682

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