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European stocks slightly lower mid-session with UK PM Theresa May showing Parliament a path to Brexit delay

Feb 26, 2019

 

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

European Markets

  • European stocks are posting losses midday with trade reality and the existing challenges to seeing real progress dampening sentiment today 
  • UK PM Theresa May addressed Parliament today and showed a path to a Brext delay if her revised proposal fails to pass
  • Weak 4Q earnings and disappointing CY2019 guidance may cap the ability of European stocks to re-rate.  Weak forward growth rates for European stocks may cap their ability to continue to see a rally in their valuations. 
  • The Euro Stoxx 600 is currently down -0.21%, the FTSE 100 has declined -1.12%, the DAX has fallen -0.3%, and the CAC 40 is lower by -0.34%
  • Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.78x
  • Retail (+1.29%), Real Estate (+0.68%), and Travel & Leisure (+0.36%) stocks are the top performers in the Euro Stoxx 600 today
  • Telecommunications (-1.03%), Automobiles & Parts (-0.9%), and Technology (-0.78%) stocks are the worst performers in the Euro Stoxx 600 today
  • 168 stocks in the Euro Stoxx 600 are at 4-week highs while 24 stocks are at 4-week lows
  • 75 stocks in the Euro Stoxx 600 are overbought while 3 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 13.96 after closing at 13.85 yesterday

What is Going on with European Currencies?

  • EUR€ is currently little changed against the USD$ at 1.1363
  • GBP£ is currently up +0.794% against the USD$ to 1.3201
  • CHF is currently little changed against the USD$ at 0.9995

Highlights from the European Bond Market

  • Generic Euro 10-Year Bonds are lower with yields up 0.7 basis points to 0.115%
  • German 10-Year Bunds are lower with yields up 0.7 basis points to 0.115%
  • French 10-Year Government Bonds are lower with yields up 0.1 basis points to 0.525%
  • UK 10-Year GILTs are lower with yields up 3.9 basis points to 1.215%
  • Italian 10-Year Government Bonds are higher with yields down -3.5 basis points to 2.738%
  • Spanish 10-Year Government Bonds are higher with yields down -3.3 basis points to 1.13%

 

 

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Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
BASF SE Utilities 67.3 3.83%               2,548,104
Industria de Diseno Textil SA Materials 25.9 1.53%                  889,345
Siemens AG Utilities 98 1.49%               1,258,958
adidas AG Financials 213 1.33%                  286,662
Deutsche Post AG Health Care 26.8 0.98%               1,376,161
 
Underperformers Sector Price 1D % Chg Volume
Telefonica SA Financials 7.55 -1.99%               3,613,560
Anheuser-Busch InBev SA/NV Energy 64.8 -1.95%                  726,386
Societe Generale SA Energy 25.6 -1.73%               1,356,624
Banco Santander SA Health Care 4.12 -1.50%               8,081,419
SAP SE Industrials 93.6 -1.44%                  637,456
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