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European Stocks at Midday

Jun 07, 2018

European Markets                                                                                                                                                                                          Start your free trial today

  • Sentiment across European markets is moderately positive, though weaker than anticipated Eurozone export data, as well as soft economic data out of Germany and Italy dampened investor outlook. German Bunds are falling, and Italian treasuries are higher, while European currencies are mixed against the greenback
  • European stocks are higher across the board with the Euro Stoxx 600 0.13% higher, the FTSE 100 advancing 0.38%, the DAX up 0.17%, and the CAC40 rising 0.23%
  • Energy (+1.01%), financials (+0.59%), and information technology stocks (+0.50%) are the biggest outperformers in the Euro Stoxx 600
  • Telecommunications services (-0.57%), consumer discretionary (-0.36%), and consumer staples (-0.21%) are the most significant decliners
  • Market breadth for the Euro Stoxx 600 is positive with 377 stocks advancing compared to 193 declines
  • Volume across European markets is 5.46% below its 10-day average
  • Eurozone exports fell 0.4% in 1Q2018, marking the first quarterly decline in EU exports in 5 years
  • Eurozone’s final 1Q2018 GDP was in-line with the previous result (+2.5% Y/Y vs +2.5% Y/Y prior)
  • German factory orders for April fell 2.5% M/M, in sharp contrast to expectations of a +0.7% M/M growth rate
  • France’s trade balance for April was (€4.95 billion) which was closer to equilibrium than was projected (€5.1 billion deficit forecasted)
  • Italian retail sales in April fell 4.6% Y/Y, compared to a 3.0% Y/Y increase in retail sales for March
  • Switzerland’s unemployment rate for May came in at 2.6%, which was in-line with the consensus
  • Greek unemployment in March was reported at 20.1%, which was softly below projections of 20.6%

What is Going on with European Currencies?

  • EUR€ is 0.46% stronger, to EUR€1.182/USD$ as continued ECB rhetoric regarding a potential interest rate hike has driven the EUR€ higher for a 4th consecutive day
  • GBP£ is down 0.20%, to GBP£1.339/USD$ following UK Prime Minister Theresa May’s decision to hold crisis talks with her cabinet regarding Brexit negotiations
  • SEK has appreciated by 0.76%, to SEK0.115/USD$

Highlights from the European Bond Market

  • German Bund is building on yesterday’s sell-off, yield on German 10-year up 3.3 basis points to 0.492%
  • Italian treasuries are rallying today with the yield on Italy’s 10-year down 5.4 basis points to 2.850%, and are on pace to finish higher after 2 straight sessions of declines
  • Spain’s 10-year treasuries are higher, as yield on the Spanish 10-year has risen 5.3 basis points to 1.418%
  • Yield on France’s 10-year bond is 3.1 basis points higher to 0.827%
  • Swiss sovereign treasuries are lower today, with the yield on Switzerland’s 10-year up 3.2 basis points to -0.008%

*Data in Price Return

Euro Stoxx 50 Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Banco Bilbao Vizcaya Argentaria SA BME:BBVA 6.10 0.11 1.80% 12.56M
Fresenius SE & Co KGaA DB:FRE 69.66 1.14 1.66% 589.01k
Airbus SE ENXTPA:AIR 101.06 1.06 1.06% 352.10k
Sanofi ENXTPA:SAN 66.23 0.68 1.04% 811.93k
Safran SA ENXTPA:SAF 103.10 1.05 1.03% 221.51k

 

Underperformers Ticker Price Chg % Chg Volume
adidas AG DB:ADS 198.55 -4.85 -2.38% 428.64k
LVMH Moet Hennessy Louis Vuitton SE ENXTPA:MC 300.95 -5.30 -1.73% 223.73k
Intesa Sanpaolo SpA BIT:ISP 2.45 -0.04 -1.55% 66.50M
Koninklijke Ahold Delhaize NV ENXTAM:AD 19.84 -0.16 -0.78% 2.18M
Industria de Diseno Textil SA BME:ITX 28.39 -0.18 -0.63% 751.76k