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European stocks edge higher ahead of Fed minutes and US-Sino trade discussions

Feb 20, 2019

 

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

European Markets

  • European stocks are edging slightly higher led by car makers as investors await the release of US Fed meeting minutes and the resumption of trade talks between the US and China today. 
  • The Euro Stoxx 600 is currently up +0.28%, the FTSE 100 is higher by +0.2%, the DAX has advanced +0.41%, and the CAC 40 has risen +0.28%
  • The Stoxx Europe 600 briefly broke above its 200-day moving average today – the first time it has been above its 200-day moving average since October 2018.  The rally in cyclical sectors like consumer discretionary, technology and materials stocks has been driving the recent rally.
  • Half of the European telecom sector is set to report earnings either today or tomorrow.  YTD, it is the only sector negative in the broad based Stoxx Europe 600 index, down 1%.  As of today, the group is on pace to book its fourth straight day of gains which implies bargain hunters and value seekers have been buying these stocks ahead of earnings.  Investors will be closely following the outlook for these companies as most analysts expected CY2019 to be a transition year for most of telecom sector.
  • European Central Bank (ECB) Executive Board member Peter Praet suggests that the ECB will begin discussing what to do with the current ECB policy to new long-term loans (TLTRO policy).  Praet’s comments offered limited insight into his bias or the bias of the ECB towards TLTROs.
  • UBS has been ordered to pay 4.5bn euros, or USD$5.1bn, by a French court that finds the bank guilty of helping wealthy French clients stash funds in undeclared Swiss accounts.  The court accuses UBS of illegally providing French customers with banking services to hide assets from tax authorities. 
  • Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 2.03x
  • Automobiles & Parts (+1.63%), Travel & Leisure (+0.81%), and Media (+0.71%) stocks are the top performers in the Euro Stoxx 600 today
  • Retail (-0.42%), Chemicals (-0.21%), and Basic Resources (-0.2%) stocks are the worst performers in the Euro Stoxx 600 today
  • 105 stocks in the Euro Stoxx 600 are at 4-week highs while 15 stocks are at 4-week lows
  • 52 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 little changed this morning and is currently at 14.52 after closing at 14.61 yesterday

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1339
  • GBP£ is currently down -0.184% against the USD$ to 1.3038
  • CHF is currently little changed against the USD$ at 0.9997

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are higher with yields down -1.3 basis points to 0.092%
  • German 10-Year Bunds are higher with yields down -1.3 basis points to 0.092%
  • French 10-Year Government Bonds are higher with yields down -1.3 basis points to 0.52%
  • UK 10-Year GILTs are higher with yields down -0.7 basis points to 1.162%
  • Italian 10-Year Government Bonds are lower with yields up 4.7 basis points to 2.835%
  • Spanish 10-Year Government Bonds are higher with yields down -1.1 basis points to 1.197%

 

 

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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 48.5 3.86% 2,469,021
Volkswagen AG Consumer Staples 146.76 2.47% 657,250
Bayerische Motoren Werke AG Utilities 72.05 1.80% 579,843
Schneider Electric SE Industrials 69.08 1.74% 556,582
Iberdrola SA Consumer Staples 7.338 1.55% 7,545,305
 
Underperformers Sector Price 1D % Chg Volume
Linde PLC Real Estate 147.7 -0.81% 202,099
Nokia OYJ Financials 5.354 -0.78% 6,563,930
BASF SE Utilities 65.43 -0.62% 878,243
BNP Paribas SA Financials 41.99 -0.59% 1,364,793
Kering SA Consumer Staples 472.1 -0.59% 79,470

 

 

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