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European stocks end session little changed as Brexit uncertainty hangs over market

Feb 04, 2019

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

European Markets

  • European stocks close little changed, with questions over Brexit weighing on investor sentiment
  • The Euro Stoxx 600 closed up +0.06%, the FTSE 100 advanced +0.2%, the DAX fell -0.04%, and the CAC 40 finished down -0.38%
  • With little recent progress on Brexit countries are starting to plan for a no-deal exit
  • President Trump said in an interview Sunday that talks with China are "doing very well" after the 2 countries met for 2 days last week
  • Italy's Central Bank head said he is getting worried about high bond yields
  • Investor sentiment for European stocks finished trading neutral with the advance/decline ratio for the Euro Stoxx 600 currently at 1.08x
  • Travel & Leisure (+0.81%), Health Care (+0.55%), and Media (+0.32%) stocks were the top performers in the Euro Stoxx 600 today
  • Automobiles & Parts (-1.34%), Banks (-0.63%), and Telecommunications (-0.57%) stocks were the worst performers in the Euro Stoxx 600 today
  • 113 stocks in the Euro Stoxx 600 hit 4-week highs while 30 stocks closed at 4-week lows
  • 38 stocks in the Euro Stoxx 600 finished the trading session overbought while 5 stocks closed oversold according to the 16-day RSI Measure
  • VSTOXX, the European stocks equivalent of the VIX, closed up 0.21 points today to 14.20 after closing at 13.99 last week

Stocks Trending in the News

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  • Alexion Pharmaceuticals, Inc. (ALXN) announced CY4Q2018 financials and CY2019 earnings guidance that beat consensus. Alexion generated an adjusted EPS of USD$2.14 in CY4Q2018, beating the highest analyst estimates that ranged between USD$1.69 and USD$1.96. Alexion sees an adjusted EPS of between USD$9.10 and USD$9.30, the midpoint of which surpasses analyst estimates for USD$8.79. Alexion is rated “Neutral” in our US Large-Cap Global Top Stock Ideas.
  • Aryzta AG (SWX: ARYN) shares fell as much as 9% after Credit Suisse resumed coverage of the company and issued an underperform recommendation, citing concerns over debt levels. Credit Suisse wrote in a note to clients that the company’s turnaround pan following its capital increase is, “highly ambitious, given the relatively undifferentiated nature of Aryzta’s core product range.” Aryzta is rated “Top Short” in our European SMID-Cap Global Top Stock Ideas.
  • Bristol Myers Squibb Co. (BMY) shares gained after activist investor hedge fund Starboard Value said it took a position in the drug maker. Shares of Bristol Myers sank last month after the company acquired Celgene Corp. (CELG) for a record USD$74bn. Bristol Myers is rated “Neutral” in our US Large-Cap Global Top Stock Ideas.
  • Clorox (CLX) reported second quarter 2019 adjusted EPS of USD$1.40 beating consensus of USD$1.30.  Clorox second quarter 2019 revenue came at USD$1.47 billion, in line with consensus of USD$1.47 billion.  Clorox works gave fourth quarter 2019 EPS guidance of USD$6.20-6.40, in line with consensus.  Clorox is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Consumer Discretionary Global Top Stock Ideas.
  • Colliers International (TSX: CIGI) was upgraded to outperform from market perform at JMP Securities.  An improved outlook for the next year was cited in the upgrade.  Colliers International is not rated in our Global Top Stock Ideas.
  • Diodes (DIOD) is buying a wafer fabrication facility in Scotland from Texas Instruments (TXN).  Diode said it expects the deal to be accretive but did not disclose terms of the deal.  Diodes will continue to manufacture Texas Instruments’ Analog products.  Diodes is rated “Attractive” in our US SMID-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology Global Top Stock Ideas.  Texas Instruments is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Information Technology Global Top Stock Ideas.
  • Impala Platinum Ltd. (JSE: IMP) shares rose the most in 3 months after the company announced a rebound in its FY1H2019 profit. The world's second-largest producer of platinum said on Monday that a rally in palladium prices that offset near decade-low prices in platinum drove the company’s larger-than-expected profit in FY1H2019. Impala Platinum is not rated in our Global Top Stock Ideas.
  • Nasdaq (NDAQ) formally confirmed its plans to bid for the Oslo Bors for 152 kronor per share.  Nasdaq is besting Euronext’s (ENXTPA: ENX) offer by 5%.  With the formal publication of Nasdaq’s offer, Euronext said it is assessing its original offer.  Nasdaq is rated “Neutral” in our US Large-Cap Global Top Stock Ideas.  Euronext is rated “Top Buy” in our European SMID-Cap Global Top Stock Ideas.
  • Nyrstar (ENXTBR: NYR) lowered its profit outlook on Friday and said it faces tough liquidity conditions this year.  Nyrstar is trying to restructure debt coming due later in the year.  Nyrstar said it continues to explore ways to improve liquidity.  Nyrstar is rated “Unattractive” in our European SMID-Cap Global Top Stock Ideas.  
  • Panalpina Welttransport Holding AG (SWX: PWTN) is open to considering other acquisition offers after the company turned down a USD$4.2bn acquisition attempt by DSV AS (CPSE: DSV). Although the Ernst Goehner Foundation, who is Panalpina’s largest shareholder with 45.9% of stock, does not want a sale of the company, it said that it is obliged to look at offers and would not necessarily reject a higher bid. Panalpina is rated “Neutral” in our European SMID-Cap Global Top Stock Ideas. DSV A/S is rated “Top Buy” in our European Large-Cap Global Top Stock Ideas.
  • Sony (TSE: 6758) reported a 14% drop in operating income to 73 billion yen (USD^666 million).  Sony’s weak results came from weak PlayStation sales, Sony sold only 8.1 PS4 consoles this holiday season, down from 9 million a year ago.  Analysts comments have generally been negative with Macquarie downgrading the stock to hold from buy.  Sony is rated is rated “Top Buy” in our European Large-Cap Global Top Stock Ideas.
  • Vallourec SA (ENXTPA: VK) shares were downgraded by Kepler Cheurveaux from hold to reduce. Additionally, Kepler Cheurveaux slashed its price target for Vallourec from 3.40 euros/share to 0.90 euros/share, implying a 39% downside from Friday’s closing price. Vallourec is rated “Unattractive” in our European SMID-Cap Global Top Stock Ideas.
  • Wirecard (XTRA: WDI) is denying reports of fraud, saying “we fundamentally contradict” press reports fraud in Singapore.  Last week the Financial Times reported that an external law firm found evidence indicating, “serious offenses of forgery and/or of falsification of accounts.”  Authorities in Singapore have launched an investigation.  Wirecard is rated “Attractive” in our European Large-Cap Global Top Stock Ideas.

What is Going on with European Currencies?

  • EUR€ is currently down -0.192% against the USD$ to 1.1434
  • GBP£ is currently down -0.199% against the USD$ to 1.3053
  • CHF is currently down -0.239% against the USD$ to 1.0022

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 1.1 basis points to 0.163%
  • German 10-Year Bunds are lower with yields up 1.1 basis points to 0.163%
  • French 10-Year Government Bonds are lower with yields up 1.1 basis points to 0.572%
  • UK 10-Year GILTs are lower with yields up 2.9 basis points to 1.25%
  • Italian 10-Year Government Bonds are higher with yields down -1.3 basis points to 2.734%

 

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Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Amadeus IT Group SA Materials 64.8 1.31%                  621,718
Unilever NV Information Technology 47.7 1.21%               3,440,699
Anheuser-Busch InBev SA/NV Energy 67.6 1.20%               1,710,633
Koninklijke Ahold Delhaize NV Consumer Discretionary 23.2 0.94%               3,789,263
Bayer AG Information Technology 67.6 0.90%               2,408,265
 
Underperformers Sector Price 1D % Chg Volume
Societe Generale SA Energy 25.8 -2.78%               6,573,979
Nokia OYJ Financials 5.27 -2.44%            19,129,849
BNP Paribas SA Financials 40.1 -1.90%               4,894,321
Daimler AG Consumer Staples 52.2 -1.62%               3,310,310
Volkswagen AG Consumer Staples 148 -1.27%                  853,914
Global Top Stock IdeasTOP LONG & TOP SHORT STOCK IDEAS FOR GLOBAL MARKETSMONTHLY TOP IDEAS FROM OUR MULTI-FACTOR QUANTITATIVE MODELS
Global Top Stock IdeasTOP LONG & TOP SHORT STOCK IDEAS FOR GLOBAL MARKETSMONTHLY TOP IDEAS FROM OUR MULTI-FACTOR QUANTITATIVE MODELS