European stocks lower on abrupt end to US-North Korea talks, weak Chinese data
Feb 28, 2019
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio
- European stocks are lower mid-session weighed down by the abrupt end to the US-North Koreas talks and weak data from China
- The North Korean leader was reluctant to agree to a deal that would require it to give up its current arsenal of nuclear weapons -- Kim was willing to pause the country’s R&D program. Both leaders left open the possibility of future talks.
- The Euro Stoxx 600 is currently down -0.31%, the FTSE 100 has declined -0.56%, the DAX has fallen -0.13%, and the CAC 40 is lower by -0.02%
- According to Goldman Sachs, their best strategy this year has been a basket of stocks with the highest revenues exposure to Western Europe. This basket is materially outperforming both the S&P 500 and the Russell 1000, in addition to the Euro Stoxx 600.
- Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.65x
- Media (+0.66%), Food & Beverage (+0.51%), and Banks (+0.44%) stocks are the top performers in the Euro Stoxx 600 today
- Basic Resources (-2.16%), Industrial Goods & Services (-0.88%), and Personal & Household Goods (-0.71%) stocks are the worst performers in the Euro Stoxx 600 today
- 83 stocks in the Euro Stoxx 600 are at 4-week highs while 45 stocks are at 4-week lows
- 57 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 little changed this morning and is currently at 13.96 after closing at 14.35 yesterday
What is Going on with European Currencies?
- EUR€ is currently up +0.405% against the USD$ to 1.1416
- GBP£ is currently little changed against the USD$ at 1.3303
- CHF is currently up +0.821% against the USD$ to 1.0067
Highlights from the European Bond Market
- Generic Euro 10-Year Bonds are lower with yields up 1 basis points to 0.158%
- German 10-Year Bunds are lower with yields up 1 basis points to 0.158%
- French 10-Year Government Bonds are lower with yields up 0.6 basis points to 0.557%
- UK 10-Year GILTs are higher with yields down -0.2 basis points to 1.272%
- Italian 10-Year Government Bonds are higher with yields down -1.6 basis points to 2.769%
- Spanish 10-Year Government Bonds are lower with yields up 0.2 basis points to 1.161%
Euro Stoxx 50 Movers
In local currency.
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||1D % Chg
|Anheuser-Busch InBev SA/NV
|Intesa Sanpaolo SpA
|BNP Paribas SA
|Societe Generale SA
||1D % Chg
|Amadeus IT Group SA
|ASML Holding NV
|Schneider Electric SE