European Stocks at Midday

May 17, 2018

European Market Recap

  • European equities are advancing across the board with the Euro Stoxx 600 +0.23%, the FTSE 100 +0.27%, the DAX +0.34%, and the CAC 40 +0.44%
  • Consumer discretionary stocks (+1.00%) and utilities stocks (+1.04%) are best performers in Euro Stoxx 600
  • Financials (-0.26%) continue to build on yesterday’s declines and along with telecommunications (-0.01%) are the only sectors in the red
  • According to a Bloomberg report, Italy’s Five Star Movement and La Lega populist parties came to an agreement today on the formation of a coalition government. Both parties have also reportedly halted requests for nearly $300 billion worth of write-offs on debt owed to the ECB.
  • German Economic Minister Peter Altmaier is calling for the EU to present the US with a trade offer for reduced tariffs on a broad range of goods, rather than attempting to seek full exemptions for the EU. Altmaier did not suggest a time table for when an offer should be given.
  • Italy’s trade balance for March was reported at €4.53 billion, well above the consensus of a €3.7 billion balance
  • Netherlands’ unemployment in April came in at 3.9%, in-line with prior levels (3.9% unemployment in March)

What is Going on with European Currencies?

  • The GBP£ has appreciated by 0.17% against the USD$
  • EUR€/USD$ pair is little changed (-0.04%) after yesterday’s slide in the Euro

Highlights from European Bond Markets

  • Yield on Italy’s 10-year bond is 2 basis points higher today, after Italian 10-year yields rose 0.16% yesterday
  • UK’s 10-year bond yields are up by more than 3 basis points

*Data in Price Return

Euro Stoxx 50 Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Industria de Diseno Textil SA BME:ITX 27.29 0.42 1.56% 1.19M
Bayerische Motoren Werke AG DB:BMW 93.41 1.25 1.36% 910.93k
Fresenius SE & Co KGaA DB:FRE 68.36 0.86 1.27% 268.73k
E.ON SE DB:EOAN 9.37 0.11 1.19% 3.85M
CRH PLC ISE:CRG 31.20 0.35 1.13% 773.62k

 

Underperformers Ticker Price Chg % Chg Volume
Intesa Sanpaolo SpA BIT:ISP 3.05 -0.05 -1.47% 59.20M
Koninklijke Ahold Delhaize NV ENXTAM:AD 19.53 -0.27 -1.37% 2.99M
Vivendi SA ENXTPA:VIV 23.18 -0.13 -0.56% 890.85k
ING Groep NV ENXTAM:INGA 13.24 -0.07 -0.50% 4.88M
Deutsche Post AG XTRA:DPW 34.13 -0.16 -0.47% 1.37M