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European Stocks at Midday

Jun 01, 2018

European Markets

  • Positive sentiment in European markets was driven by a calming political environment in Italy, as well as a resolution to political discord in Spain
  • European stocks are higher across the board with the Euro Stoxx 600 up 1.10%, the FTSE 100 gaining 0.65%, the DAX rising 1.03%, and the CAC40 advancing 1.37%
  • All sectors in the Euro Stoxx 600 in positive territory
  • Financials (+2.24%), industrials (+1.23%), and materials stocks (+1.15%) are the best performers in the Euro Stoxx 600
  • Market breadth in the Euro Stoxx 600 is notably positive with 500 out of 600 stocks currently trading higher
  • Volume across European markets is relatively in line with usual levels (0.28% above 10-day average volume)
  • According to a Financial Times report, Spanish prime minister Mariano Rajoy has become the first prime minister in Spain’s history to be ousted by parliament following a successful vote of no-confidence. Pedro Sanchez will be sworn in as Prime Minister
  • Italy’s 5 Star Movement and La Lega populist parties have come to an agreement to form a coalition government, eliminating the need for a snap election. Guiseppe Conte will be sworn in as prime minister today
  • The Eurozone’s manufacturing PMI for May was in-line with expectations (55.5 vs 55.5 consensus)

Highlights from the European Bond Market

  • European bond markets are risk-on, with Italian, Spanish, Portuguese, and Greek treasuries rallying while UK, France, and German treasuries slide
  • Italian treasuries are rallying, with yields on Italy’s 10-year bond up 19.2 basis points to 2.554%
  • German Bunds are selling-off, as yields on the German 10-year have risen by 6.1 basis points to 0.394%
  • Yields on the France’s 10-year bond are up 4.5 basis points to 0.706%
  • UK treasures are lower today, and yields on the UK 10-year bond yield up 6.2 basis points to 1.289%
  • Greek treasuries are advancing, with yields on Greece’s 10-year bond down 12.2 basis points to 4.386%
  • Spain’s treasures are rising today, with yields on the Spanish 10-year bond down 13.5 basis points to 1.335%, after Spanish Prime Minister Rajoy was ousted

What is Going on with European Currencies?

  • GBP£ is 0.14% stronger against the USD$, to GBP£1.332/USD$
  • EUR€ has depreciated by 0.15% compared to the USD$, to EUR€1.167/USD$

*Data in Price Return

Euro Stoxx 50 Movers

In local currency.

On Mobile/Tablet scroll to the right.

Outperformers Ticker Price Chg % Chg Volume
Intesa Sanpaolo SpA BIT:ISP 2.65 0.13 5.23% 125.21M
Banco Santander SA BME:SAN 4.78 0.18 3.99% 44.19M
Deutsche Bank AG DB:DBK 9.50 0.34 3.73% 21.48M
Banco Bilbao Vizcaya Argentaria SA BME:BBVA 6.05 0.21 3.67% 17.35M
ING Groep NV ENXTAM:INGA 12.86 0.40 3.19% 9.50M

 

Underperformers Ticker Price Chg % Chg Volume
Unibail-Rodamco SE ENXTAM:UL 191.90 -0.65 -0.34% 398.98k
Essilor International Cie Generale d'Optique SA ENXTPA:EI 117.05 0.15 0.13% 202.52k
Deutsche Telekom AG DB:DTE 13.24 0.02 0.19% 5.00M
Unilever NV ENXTAM:UNA 47.87 0.13 0.27% 2.15M
E.ON SE DB:EOAN 9.10 0.03 0.31% 4.43M