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European Stocks at Midday

May 30, 2018

European Markets

  • Positive sentiment across European markets today is being driven by abating concerns about Italian political instability, as well as stronger than expected economic data from the region
  • European stocks are mostly higher with the Euro Stoxx 600 +0.15%, the DAX +0.70%, the FTSE 100 +0.27%, while the CAC40 is down 0.25%
  • Energy (+1.36%), healthcare (+0.68%), and utilities stocks (+0.51%) are the best performers in the Euro Stoxx 600
  • Industrials (-0.12%) and financials (-0.04%) are the only Euro Stoxx 600 sectors in the red today
  • Market breadth in the Euro Stoxx 600 is decidedly positive with 366 stocks advancing compared to 209 declines
  • Volume across European markets is relatively in-line with usual levels (+0.70% compared to 10-day average)
  • Germany’s unemployment rate in May came in at 5.2%, which was below the consensus of 5.3% unemployment, and was also lower than the prior month (5.3% unemployment in April).
  • German retail sales growth in April was lower than expected (+1.2% Y/Y vs +1.6% Y/Y consensus)
  • French consumer spending in April fell 1.5% m/m, compared to expectations of no change in April
  • Spain’s retail sales for April increased by 0.5% Y/Y, well below projections of a 1.4% sales growth rate. Spain’s CPI grew by 0.5% in April on a Y/Y basis, compared to estimates of a 1.5% increase in CPI 
  • Italian president Sergio Mattarella is reportedly against holding elections over the summer, preferring to hold them in autumn

What is Going on with European Currencies?

  • European currencies mostly stronger in relation to USD$, as USD$ haven bid subsides
  • SEK is 1.43% stronger against the USD$ to 8.831 kr
  • EUR€ has appreciated by 0.95% relative to the USD$ to €1.163
  • GBP£ is up 0.35% compared to the USD$ to £1.329

Highlights from the European Bond Market

  • Risk-on sentiment in European bond markets today, contrasting yesterday’s trading, with Italian, Spanish, Portuguese, and Greek bonds higher, while UK, French, German, and Swiss treasuries sell-off
  • Italian treasuries rallying after yesterday’s significant decline, yields on Italy’s 10-year down 24.6 basis points to 2.88%
  • German Bund is falling today with yields on the German 10-year up 11.1 basis points to 0.36%
  • UK treasuries are down today, after gaining yesterday, with yields on the UK 10-year up 6.1 basis points to 1.25%
  • Yields on Greece’s 10-year bond have fallen by 21 basis points to 4.46%
  • Spanish treasuries are up today, and yields on the Spanish 10-year have declined by 6.1 basis points to 1.51%

 

*Data in Price Return

Euro Stoxx 50 Movers

In local currency.

On Mobile/Tablet scroll to the right.

Outperformers Ticker Price Chg % Chg Volume
Bayer AG DB:BAYN 102.90 4.06 4.11% 1.83M
Enel SpA BIT:ENEL 4.75 0.15 3.24% 26.31M
Intesa Sanpaolo SpA BIT:ISP 2.52 0.08 3.10% 140.93M
Banco Santander SA BME:SAN 4.73 0.11 2.29% 43.84M
Banco Bilbao Vizcaya Argentaria SA BME:BBVA 6.01 0.13 2.23% 17.74M

 

Underperformers Ticker Price Chg % Chg Volume
Societe Generale SA ENXTPA:GLE 37.08 -2.10 -5.36% 3.78M
BNP Paribas SA ENXTPA:BNP 54.59 -2.63 -4.60% 4.43M
Vivendi SA ENXTPA:VIV 21.32 -0.92 -4.14% 4.42M
Industria de Diseno Textil SA BME:ITX 27.56 -0.49 -1.75% 1.58M
Schneider Electric SE ENXTPA:SU 73.82 -0.46 -0.62% 736.03k