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European Stocks at Midday

May 15, 2018

European Markets

  • European equities are mostly higher today with the Euro Stoxx 600 +0.12%, the CAC40 +0.12%, the FTSE 100 +0.24%, with only the DAX declining (-0.02%)
  • Energy (+0.96%), industrials (+0.20%), and utilities (+0.22%) are the best performing sectors in the Euro Stoxx 600 today, with telecommunications (-1.84%), health care (-0.32%), and consumer discretionary (-0.04% being the largest laggards
  • Market breadth in the Euro Stoxx 600 is positive with 350 out of 600 stocks advancing
  • Volume across European is unusually higher, with markets trading at 71.75% above their 10-day average

 

European Recap

  • Bank of Finland Governor Olli Rehn, a new member of the ECB Governing Council, remarked that the Eurozone outlook remains strong, but that downside risks exist stemming from uncertainty around the banks of EU member nations
  • In a speech, ECB member Benoît Coeure warned that excess cash created by the ECB’s QE program could hurt monetary policy in the future
  • A Handelsblatt report stated that the EU is considering creating new sovereign bonds by bunding euro-denominated bonds and offering them as a securitized financial product
  • Eurozone industrial production for March increased 3.0% on a y/y basis, firmly below the consensus of a 3.7% growth rate
  • The UK’s unemployment rate for March came in at 4.2%, which was in-line with forecasts for March, and was unchanged from the prior month
  • Netherlands’ 1Q2018 GDP rose by 2.8% y/y, below estimates of a 3.4% y/y growth for the quarter
  • Germany’s 1Q2018 GDP growth was reported at 1.6% y/y, slightly below expectations (+1.7% growth projected for 1Q2018)
  • Switzerland’s April PPI grew more than in March on a y/y basis (+2.7% increase in April vs 2.0% growth in March)
  • The increase in France’s CPI in April was in-line with y/y projections (+1.6% vs +1.6% anticipated)

 

What is Going on with European Currencies?

  • USD$ stronger against most European currencies
  • EUR€ has depreciated 0.38% against the USD$
  • The GBP£ is 0.28% weaker compared with the USD$

 

Highlights from the European Bond Market

  • German 10-year bonds are moving lower, with yields on German 10-years 0.024% higher
  • The yield on Netherlands’ 10-year bond has climbed 0.02%

*Data in Price Return

Euro Stoxx 50 Movers

In local currency.

On Mobile/Tablet scroll to the right.

Outperformers Ticker Price Chg % Chg Volume
CRH PLC ISE:CRG 30.66 0.35 1.15% 329.45k
Volkswagen AG XTRA:VOW3 173.12 1.78 1.04% 277.36k
BASF SE DB:BASF 87.48 0.72 0.83% 788.96k
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen DB:MUV2 192.85 1.45 0.76% 136.36k
Intesa Sanpaolo SpA BIT:ISP 3.17 0.02 0.75% 41.69M

 

Underperformers Ticker Price Chg % Chg Volume
Orange SA ENXTPA:ORA 14.59 -0.42 -2.80% 7.95M
Deutsche Bank AG DB:DBK 11.22 -0.25 -2.14% 7.70M
Telefonica SA BME:TEF 8.12 -0.12 -1.43% 6.74M
Banco Bilbao Vizcaya Argentaria SA BME:BBVA 6.76 -0.08 -1.10% 8.17M
Industria de Diseno Textil SA BME:ITX 26.64 -0.23 -0.86% 761.21k