European stocks are higher mid-session with positive Chinese data fueling the rally
Mar 01, 2019
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio
- European stocks are higher, with a broad-based rally being driven by positive data from China, pushing stocks a level last seen in October
- The Euro Stoxx 600 is currently up +0.56%, the FTSE 100 is higher by +0.61%, the DAX has advanced +1.15%, and the CAC 40 has risen +0.67%
- US officials are preparing a final trade agreement to present to China in the coming weeks with the potential for another summit in March, according to a report in Bloomberg today
- MSCI has confirmed it will increase the weight on Chinese stocks in its indexes, with China rising in the MSCI Emerging Markets index to 3.3% from today’s 0.72%
- The China Caixin China Manufacturing PMI came in at 49.9, ahead of market forecasts of 48.5 and January’s reading of 48.3. Greater-than-expected domestic demand was boosted by an increase in infrastructure spending.
- Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 4.22x
- Automobiles & Parts (+1.89%), Chemicals (+1.27%), and Travel & Leisure (+1.2%) stocks are the top performers in the Euro Stoxx 600 today
- Media (-0.65%), Oil & Gas (+0.01%), and Utilities (+0.01%) stocks are the worst performers in the Euro Stoxx 600 today
- 108 stocks in the Euro Stoxx 600 are at 4-week highs while 53 stocks are at 4-week lows
- 66 stocks in the Euro Stoxx 600 are overbought while 9 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 13.3 after closing at 13.59 yesterday
What is Going on with European Currencies?
- EUR€ is currently little changed against the USD$ at 1.1384
- GBP£ is currently down -0.173% against the USD$ to 1.324
- CHF is currently little changed against the USD$ at 1.0018
Highlights from the European Bond Market
- Generic Euro 10-Year Bonds are lower with yields up 0.7 basis points to 0.19%
- German 10-Year Bunds are lower with yields up 0.7 basis points to 0.19%
- French 10-Year Government Bonds are lower with yields up 1.1 basis points to 0.58%
- UK 10-Year GILTs are lower with yields up 0.1 basis points to 1.303%
- Italian 10-Year Government Bonds are higher with yields down -0.5 basis points to 2.747%
- Spanish 10-Year Government Bonds are lower with yields up 2.5 basis points to 1.198%
Euro Stoxx 50 Movers
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|LVMH Moet Hennessy Louis Vuitton SE
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|Fresenius SE & Co KGaA