European Stocks at Midday

Jun 05, 2018

European Markets

  • Sentiment in European markets was moderately positive, with the Euro Stoxx 600 rising for the third consecutive day. Eurozone economic data came in mixed with retail sales matching expectations, but PMI data disappointing
  • European stocks are mostly higher with the Euro Stoxx 600 up 0.39%, the DAX climbing 1.14%, the CAC40 gaining 0.62%, while the FTSE 100 is down 0.47%
  • Information technology (+1.99%), consumer discretionary (+0.80%), and materials stocks (+0.68%) are the biggest outperformers in the Euro Stoxx 600
  • Energy (-1.08%), utilities (-0.28%), and financials stocks (-0.14%) are the most significant decliners in the Euro Stoxx 600
  • Market breadth in the Euro Stoxx 600 is decidedly positive with 358 stocks advancing compared to 199 declines
  • Volume across European markets is 14.30% below average 10-day levels
  • Eurozone’s retail sales in April grew 1.7% Y/Y, in-line with expectations for a 1.7% growth rate
  • Eurozone Services PMI for May came in at 53.8, which was below a preliminary figure of 54.1
  • Sweden’s industrial production in April increased by significantly less than it did in March (+3.2% Y/Y vs +6.8% Y/Y in March)
  • Newley appointed Italian Prime Minister Giuseppe Conte vowed to follow a program of fiscal expansion in his first speech since taking office. The FTSE MIB is down 0.37% today following Conte’s announcement

Highlights from the European Bond Market

  • Italian treasuries are selling-off after yesterday’s rally, with yields on Italy’s 10-year up 17 basis points to 2.668%
  • German Bunds are higher today, with yields on the German 10-year down 3.5 basis points to 0.379% 
  • Yields on France’s 10-year bond have fallen by 2.2 basis points to 0.698%
  • Spanish sovereign treasuries are declining as yields on Spain’s 10-year bond have risen 3.3 basis points to 1.339%

What is Going on with European Currencies?

  • GBP£ has appreciated by 0.35% against the USD$, to GBP£1.335/USD$, following stronger than expected UK PMI data (54 vs 53.2 consensus)
  • EUR€ has fallen 0.21% relative to the USD$, to EUR€1.167/USD$
  • SEK is 0.24% weaker compared to the USD$, to SEK0.1138/USD$

*Data in Price Return

Euro Stoxx 50 Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
ASML Holding NV ENXTPA:ASML 180.75 7.55 4.36% 890.36k
Fresenius SE & Co KGaA DB:FRE 67.68 1.40 2.11% 339.58k
SAP SE DB:SAP 99.64 1.85 1.89% 1.09M
Industria de Diseno Textil SA BME:ITX 28.68 0.53 1.88% 1.24M
LVMH Moet Hennessy Louis Vuitton SE ENXTPA:MC 310.05 5.55 1.82% 203.86k

 

Underperformers Ticker Price Chg % Chg Volume
Orange SA ENXTPA:ORA 14.70 -0.32 -2.10% 1.87M
Eni SpA BIT:ENI 15.35 -0.23 -1.50% 4.29M
Schneider Electric SE ENXTPA:SU 74.76 -0.84 -1.11% 1.19M
Intesa Sanpaolo SpA BIT:ISP 2.57 -0.03 -0.98% 50.60M
ING Groep NV ENXTAM:INGA 12.80 -0.11 -0.85% 5.85M