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European stocks lower mid-session after earlier gains, EU set to veto Alston (ALO) - Siemens (SIE) deal

Jan 31, 2019

 

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

European Markets

  • European stocks open higher but drift lower through the session with invesors taking a pause after the Fed comments yesterday
  • The EU anti-trust officials are set to veto the Alstom (DB:ALO) - Siemens (DB: SIE) rail merger, with both French and German officials angry at the expected move
  • The Euro Stoxx 600 is currently up +0.1%, the FTSE 100 is higher by +0.58%, the DAX has advanced +0.1%, and the CAC 40 has risen +0.28%
  • After rallying into year-end, European telecom stocks have been missing from start of the year rally: Stoxx Europe 600 +6.16% vs. Stoxx 600 Telecom –3.60%
  • Investor sentiment for European stocks is neutral with the advance/decline ratio for the Euro Stoxx 600 currently at 1.03x
  • Oil & Gas (+1.8%), Basic Resources (+1.08%), and Telecommunications (+0.89%) stocks are the top performers in the Euro Stoxx 600 today
  • Banks (-1.41%), Personal & Household Goods (-0.77%), and Travel & Leisure (-0.38%) stocks are the worst performers in the Euro Stoxx 600 today
  • 124 stocks in the Euro Stoxx 600 are at 4-week highs while 14 stocks are at 4-week lows
  • 44 stocks in the Euro Stoxx 600 are overbought while 5 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 15.55 after closing at 16.02 yesterday

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1488
  • GBP£ is currently little changed against the USD$ at 1.3135
  • CHF is currently little changed against the USD$ at 1.0071

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -1.6 basis points to 0.172%
  • German 10-Year Bunds are higher with yields down -1.6 basis points to 0.172%
  • French 10-Year Government Bonds are higher with yields down -2.4 basis points to 0.573%
  • UK 10-Year GILTs are higher with yields down -2.4 basis points to 1.231%
  • Italian 10-Year Government Bonds are higher with yields down -1 basis points to 2.589%
  • Spanish 10-Year Government Bonds are higher with yields down -4.6 basis points to 1.208%

 

 

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Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
TOTAL SA Consumer Discretionary 47.9 1.95%               2,499,194
Koninklijke Philips NV Financials 33.9 1.94%               1,316,259
Orange SA Materials 13.7 1.67%               2,934,519
Eni SpA Utilities 14.9 1.43%               5,000,322
Sanofi Consumer Discretionary 75.7 1.41%                  704,276
 
Underperformers Sector Price 1D % Chg Volume
Unilever NV Information Technology 45.9 -3.16%               3,704,474
Intesa Sanpaolo SpA Industrials 2.01 -2.47%            92,810,375
Nokia OYJ Financials 5.56 -2.22%            34,980,220
Koninklijke Ahold Delhaize NV Consumer Discretionary 22.9 -1.86%               2,383,003
Societe Generale SA Energy 27.7 -1.86%               1,469,903
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