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European Stocks at Midday

May 18, 2018

European Markets Recap

  • European equities are mostly declining today with the Euro Stoxx 600 (-0.12%), the FTSE 100 (-0.12%), the DAX (-0.05%), while the CAC40 is advancing (0.07%)
  • Telecommunications (-1.45%) and consumer discretionary stocks (-0.54%) are the biggest underperformers in the Euro Stoxx 600
  • Industrials (+0.25%) and utilities (+0.01%) are the only Euro Stoxx 600 sectors in the black
  • Market breadth in the Euro Stoxx 600 is neutral with 288 stocks advancing, while 288 stocks are declining
  • Volume in the Euro Stoxx 600 is 28.53% above its average 10-day volume
  • The Eurozone’s trade balance for March was reported at €21.2 billion, modestly above expectations of a €21.0 billion balance
  • In an attempt to salvage the Iran nuclear deal, the EU has begun implementing “blocking statues” to protect European companies that conduct business with Iran from US sanctions. Blocking statues forbid EU companies from participating in the “extraterritorial effects” of US sanctions
  • The leaders of Italy’s populist La Lega and Five Star parties have reportedly sealed and agreement to form a coalition government. It has been more than 5 months since Italian president Sergio Mattarella disbanded the Italian parliament
  • ECB Governing Council member Ewald Nowotny continued to make hawkish remarks, saying the ECB should not prolong its QE program, and should focus on a normalization of the ECB’s monetary policy
  • Germany’s PPI for April grew 2.0% on a y/y basis, which was higher than projected (+1.8% PPI growth consensus). German PPI growth in March was below April levels, at +1.9% y/y

What’s Going on with European Currencies?

  • EUR€ has depreciated by 0.08% against the USD$, with uncertainty about Italy’s Five Star Movement-La Lega monetary policy being a factor for the Euro’s decline
  • The GBP£ has declined 0.20% relative to the USD$

Highlights from the European Bond Markets

  • Italian 10-year bonds continue to slide, with yields up 7 basis points today. Yields on Italy’s 10-year up to 2.177%
  • The UK’s 10-year bond is rallying, and yields on the UK sovereign 10-year have advanced by 3 basis points
  • Portuguese 10-year bonds are retreating, with yields moving on the 10-year moving higher (up 5 basis points today)

*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:CRH 31.68 0.34 1.08% 1.26M
Koninklijke Ahold Delhaize NV ENXTAM:AD 19.65 0.21 1.07% 3.86M
Vinci SA ENXTPA:DG 86.58 0.88 1.03% 1.13M
Unilever NV ENXTAM:UNA 47.93 0.48 1.01% 3.29M
L'Oreal SA ENXTPA:OR 205 1.6 0.79% 536.62k

 

Underperformers Ticker Price Chg % Chg Volume
Bayerische Motoren Werke AG DB:BMW 88.82 -4.48 -4.48% 1.62M
Deutsche Telekom AG DB:DTE 13.52 -0.62 -0.62% 13.97M
Intesa Sanpaolo SpA BIT:ISP 3.01 -0.07 -0.07% 114.68M
Enel SpA BIT:ENEL 4.9 -0.09 -0.09% 31.74M
Banco Santander SA BME:SAN 5.28 -0.07 -0.07% 41.88M