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European stocks rising on tech strength and no hike from ECB, despite weak PMIs

Jan 24, 2019

 

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

European Markets

  • European stocks are rising midday with global strength in tech driving stocks higher, despite weak PMIs today
  • The European Central Bank did not raise interest rates as expected, reiterating its plan to hold rates steady until at least the summer
  • The Euro Stoxx 600 is currently up +0.35%, the FTSE 100 has declined -0.16%, the DAX has advanced +0.48%, and the CAC 40 has risen +0.74%
  • January German PMI surprised by coming in at 52.1 vs. market forecasts of 51.9 
  • French January PMI really disappointed with a reading of 47.9 vs. market forecasts of 51.0 
  • The EU said the "special purpose vehicle" it is setting up to allow European companies to bypass the US sanctions on Iran is almost ready, it seeks to launch it "very soon"
  • Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 2.09x
  • Technology (+2%), Automobiles & Parts (+1.46%), and Insurance (+0.91%) stocks are the top performers in the Euro Stoxx 600 today
  • Telecommunications (-0.4%), Personal & Household Goods (-0.26%), and Health Care (-0.24%) stocks are the worst performers in the Euro Stoxx 600 today
  • 124 stocks in the Euro Stoxx 600 are at 4-week highs while 11 stocks are at 4-week lows
  • 28 stocks in the Euro Stoxx 600 are overbought while 6 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 15.87 after closing at 16.48 yesterday
  • Generic Euro 10-Year Bonds are higher with yields down -2.3 basis points to 0.202%

What is Going on with European Currencies?

  • EUR€ is currently down -0.334% against the USD$ to 1.1343
  • GBP£ is currently down -0.36% against the USD$ to 1.3022
  • CHF is currently little changed against the USD$ at 1.0046
     

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -2.3 basis points to 0.202%
  • German 10-Year Bunds are higher with yields down -2.3 basis points to 0.202%
  • French 10-Year Government Bonds are higher with yields down -3.2 basis points to 0.603%
  • UK 10-Year GILTs are higher with yields down -4.3 basis points to 1.283%
  • Italian 10-Year Government Bonds are higher with yields down -6.6 basis points to 2.686%
  • Spanish 10-Year Government Bonds are higher with yields down -5.8 basis points to 1.255%

 

 

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Euro Stoxx 50 Movers

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

Outperformers Sector Price 1D % Chg Volume
Fresenius SE & Co KGaA Telecommunication Services 45 5.05%               1,484,919
ASML Holding NV Health Care 148 3.74%               1,303,976
Airbus SE Industrials 95.5 1.83%                  440,316
Schneider Electric SE Industrials 60.1 1.66%                  470,613
Amadeus IT Group SA Materials 66.1 1.60%                  391,184
 
Underperformers Sector Price 1D % Chg Volume
adidas AG Financials 203 -2.32%                  380,705
Koninklijke Ahold Delhaize NV Consumer Discretionary 23 -0.82%               1,463,620
Linde PLC Real Estate 138 -0.72%                  232,127
Deutsche Telekom AG Financials 14.4 -0.66%               4,217,926
L'Oreal SA Health Care 199 -0.55%                  127,653

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