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European stocks are higher mid-session with positive Chinese data fueling the rally

Mar 01, 2019

 

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

European Markets

  • 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%

 

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Euro Stoxx 50 Movers

In local currency.
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Outperformers Sector Price 1D % Chg Volume
Anheuser-Busch InBev SA/NV Energy 71.7 4.57%               2,241,386
Kering SA Consumer Staples 498 3.71%                  126,116
LVMH Moet Hennessy Louis Vuitton SE Consumer Discretionary 308 2.25%                  404,065
Volkswagen AG Consumer Staples 155 2.20%                  651,074
Daimler AG Consumer Staples 53.7 1.92%               1,449,423
 
Underperformers Sector Price 1D % Chg Volume
Unilever NV Information Technology 47.2 -0.84%               2,024,319
Fresenius SE & Co KGaA Telecommunication Services 49.1 -0.61%                  735,553
Vivendi SA Consumer Discretionary 25.5 -0.58%               1,814,059
Eni SpA Utilities 15.1 -0.38%               4,174,451
Iberdrola SA Consumer Staples 7.31 -0.38%               4,234,003
Stock Research ReportsConcise quantitative company reports highlighting stocks from OUR 17 GLOBAL MODELS
Stock Research ReportsConcise quantitative company reports highlighting stocks from OUR 17 GLOBAL MODELS