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European Stocks at Midday

May 22, 2018

European Markets

  • European equities are broadly higher with the Euro Stoxx 600 +0.12%, the FTSE 100 +0.11%, the DAX +0.43%, and the CAC40 +0.06%
  • Telecommunications services (+0.76%) and financials (+0.67%) stocks are the biggest outperformers in the Euro Stoxx 600
  • Healthcare (-0.19%), energy (-0.48%), and utilities (-0.48%) sectors are the largest laggards in the Euro Stoxx 600
  • Market breadth in the Euro Stoxx 600 was decidedly positive with 352 stocks advancing, compared to 223 declines
  • European markets are trading 27.33% above their average 10-day volume
  • A Reuters update, which sited a Bundesbank monthly report, stated that growth in the German economy remains strong, but that growth momentum is softening. The report went on to attribute Germany’s weaker than expected 1Q GDP to “exceptional factors”, indicating that a more robust 2Q2018 GDP result is expected despite waning momentum
  • Bank of England Governor Mark Carney reportedly remarked that the UK economy did not grow in-line with forecasts from February, and that there are signs of softness in the UK’s 1Q2018 GDP data
  • Italy’s Five Star Movement and La Lega coalition government has nominated Giuseppe Conte as the next Italian prime minister. Following the nomination, Italian President Sergio Mattarella summoned the leaders of the Five Star and La Lega to his palace, raising speculation that there are concerns about the selection of Conte
  • Sweden’s unemployment rate for April was reported at 6.8%, which was above the consensus of a 6.6% rate, and was also higher than the 6.5% unemployment rate in March
  • Spain’s reported a €0.83 billion trade deficit in March, which was lower than Spain’s deficit in February (€2.17 billion)

What is Going on with European Currencies?

  • GBP£ has appreciated by 0.18% against the USD$
  • EUR€ is 0.03% stronger compared to the USD$

Highlights from the European Bond Market

  • Italian 10-year bonds are rallying after 10 straight days of declines, yields Italy’s 10-year are more than 5 basis points higher today
  • Yields on the 10-year Greek bond have fallen by nearly 16 basis points, as progress made in Greece’s bailout final review has improved Greece’s economic outlook
  • UK 10-year bonds are selling-off today, with yields on the UK 10-year rising 4 basis points

*Data in Price Return

Euro Stoxx 50 Movers

In local currency.

On Mobile/Tablet scroll to the right.

Outperformers Ticker Price Chg % Chg Volume
Orange SA ENXTPA:ORA 14.79 0.49 3.46% 6.42M
Bayerische Motoren Werke AG DB:BMW 90.63 2.06 2.33% 1.17M
Banco Santander SA BME:SAN 5.28 0.11 2.11% 11.60M
Banco Bilbao Vizcaya Argentaria SA BME:BBVA 6.63 0.12 1.87% 4.92M
ING Groep NV ENXTAM:INGA 13.5 0.21 1.61% 4.98M

 

Underperformers Ticker Price Chg % Chg Volume
Engie SA ENXTPA:ENGI 14.14 -0.46 -3.15% 2.22M
Fresenius SE & Co KGaA DB:FRE 68.12 -1.02 -1.48% 574.69k
Nokia OYJ HLSE:NOKIA 5.23 -0.06 -1.21% 5.90M
TOTAL SA ENXTPA:FP 54.09 -0.41 -0.75% 2.09M
LVMH Moet Hennessy Louis Vuitton SE ENXTPA:MC 309.65 -2.05 -0.66% 190.78k