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European Stocks at Midday

May 24, 2018

European Markets

  • Sentiment in Europe is moderately risk-off, after comments by President Trump that the US is initiating a probe into auto exports to the US. European auto manufacturers have traded off following these comments. Concerns about a lack of significant progress in the Sino-American trade war negotiations and continued uncertainty about the outcome of the US-North Korea summit have also impacted investor outlook 
  • European equities are mixed today with the Euro Stoxx 600 +0.20% and the CAC40 +0.31%, while the DAX and FTSE 100 are down 0.21% and 0.22%, respectively
  • Consumer staples (+1.15%), information technology (+0.75%), and materials (+0.46%) are the best performing sectors in the Euro Stoxx 600 today
  • Telecommunications (-0.47%), consumer discretionary (-0.31%), and energy stocks (-0.29%) are currently the largest laggards in the Euro Stoxx 600
  • Market breadth in the Euro Stoxx 600 is positive with 320 stocks advancing, compared to 260 declines
  • Volume traded in European markets is 23.92% below its 10-day average
  • An ECB Financial Stability Review determined that the financial climate in the Eurozone remains favorable, and that current economic conditions support financial stability
  • ECB chief economist Peter Praet remarked that while the Eurozone’s economic outlook remains strong, there are “clouds”, such as political and economic uncertainty in Italy
  • UK retail sales in April grew more than expected (+1.4% y/y vs +0.1% consensus). Retail sales growth for April was marginally stronger than retail growth in March (+1.3% prior)
  • Germany’s final 1Q2018 GDP showed 1.6% Y/Y growth, which was in-line with preliminary GDP data
  • Sweden’s PPI growth came in at in April came in at +4.9% Y/Y, which was higher than March levels (+4.0% prior)
  • Finland’s retail sales in April increased by 1.1% Y/Y, significantly below the 4.5% growth that was projected. Finnish PPI for April grew at 3.3% Y/Y, above expectations (+3.1% anticipated)

What is Going on with European Currencies?

  • GBP£ has appreciated by 0.36% against the USD$
  • EUR€ is 0.16% stronger relative to the USD$

Highlights from the European Bond Market

  • Sovereign bonds across Europe are largely rallying
  • Italian bonds are up today, reversing from a recent trend of declines. Yields on Italy’s 10-year are 3.1 basis points lower to 2.35%
  • Yields on Spain’s 10-year bond are down by 4.9 basis points to 1.382%
  • Greek 10-year bonds are rallying, with yields on Greece’s 10-year down 13.8 basis points to 4.16%

*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 28.53 1.08 3.93% 2.82M
Anheuser-Busch InBev SA/NV ENXTBR:ABI 81.72 1.20 1.49% 684.03k
adidas AG DB:ADS 196.50 2.70 1.39% 344.84k
Danone SA ENXTPA:BN 66.42 0.83 1.27% 589.05k
CRH PLC ISE:CRG 31.74 0.37 1.18%

537.25k

 

Underperformers Ticker Price Chg % Chg Volume
Deutsche Bank AG DB:DBK 10.48 -0.42 -3.84% 17.23M
Daimler AG XTRA:DAI 64.90 -2.18 -3.25% 2.88M
Bayerische Motoren Werke AG DB:BMW 86.15 -2.85 -3.20% 1.61M
Volkswagen AG XTRA:VOW3 166.54 -5.22 -3.04% 1.00M
Deutsche Telekom AG DB:DTE 13.33 -0.19 -1.41% 6.16M