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European Stocks at Midday

Jun 14, 2018

European Markets

  • The ECB has announced that net asset purchases will be halted by the end of December 2018. ECB assets purchases will equal €30 billion per month from now until the end of September, and €15 billion per month from October through December. Interest rates will remain unchanged, as was expected, until the summer of 2019. UK retail sales data for May came in significantly stronger than forecasted
  • European stocks are broadly lower with the Euro Stoxx 600 down 0.40%, the FTSE 100 sliding 0.24%, the DAX moving 0.32% lower, and the CAC 40 declining 0.15%
  • Telecommunications (+0.53%) and energy stocks (+0.05%) are the only stocks in positive territory in the Euro Stoxx 600
  • Consumer staples (-1.53%), materials (-1.07%), and utilities stocks (-0.33%) are the biggest decliners
  • Market breadth for the Euro Stoxx 600 is decidedly negative with 260 stocks advancing compared to 317 declines
  • Volume across European markets is 14.33% below its 10-day average
  • Newley appointed Italian Prime Minister Guiseppe Conte will meet with French President Emmanuel Macron, following a conciliatory phone call between the two leaders. Diplomatic tensions had escalated earlier this week when Italy closed its port to a humanitarian migrant rescue ship. Macron and Conte agreed that the upcoming June European Union summit made it necessary for both parties to discuss new initiatives
  • UK retail sales increased 3.9% Y/Y in May, which was well above growth projections (+2.4% anticipated)
  • Sweden’s Y/Y CPI growth for May was in-line with expectations (+1.9% vs +1.9% forecasted)

Highlights from the European Bond Market

  • Italian treasuries are selling off today, with the yield on the Italian 10-year up 2.0 basis points to 2.805%
  • German Bunds are rallying today following yesterday’s decline, with the yield on the German 10-year down 2.8 basis points to 0.450%
  • Yield on the Greek 10-year bond are 6.4 basis points higher to 4.568%
  • French sovereign treasuries are higher, with the yield on the French 10-year bond down 3.7 basis points to 0.799%
  • UK treasuries are advancing, and the yield on the UK 10-year bond has slid 2.3 basis points to 1.341%

What is Going on with European Currencies?

  • SEK is down 0.49%, to SEK/USD$
  • EUR€ is 0.35% weaker, to EUR€/USD$
  • GBP£ has declined 0.16%, to GBP£/USD$

*Data in Price Return, Source: Stockdio

Euro Stoxx 50 Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Airbus SE ENXTPA:AIR 101.86 1.68 1.68% 373.49k
adidas AG DB:ADS 197.85 2.95 1.51% 265.47k
Safran SA ENXTPA:SAF 103.65 0.95 0.93% 253.32k
Deutsche Post AG XTRA:DPW 29.85 0.25 0.84% 2.22M
Sanofi ENXTPA:SAN 66.72 0.55 0.83% 706.57k


Underperformers Ticker Price Chg % Chg Volume
Unilever NV ENXTAM:UNA 45.83 -1.63 -3.43 5.88M
L'Oreal SA ENXTPA:OR 206.7 -3.1 -1.48 256.63k
Intesa Sanpaolo SpA BIT:ISP 2.57 -0.03 -1.06 38.32M
Danone SA ENXTPA:BN 64.81 -0.62 -0.95 359.88k
SAP SE DB:SAP 101.9 -0.92 -0.89 1.17M