European Stocks at Midday
Jun 18, 2018
- Sentiment across European stock markets was decidedly risk-off, as concerns over escalating Sino-American trade tensions continue to dampen investor outlook. Euro Stoxx 600 is on pace for its biggest two-day decline since March, including the 0.99% loss posted on Friday. The European bond market is broadly higher today
- European stocks are broadly lower with the Euro Stoxx 600 down 1.12%, the FTSE 100 falling 0.41%, the DAX sliding 1.58%, and the CAC 40 retreating 1.36%
- All sectors in the Euro Stoxx 600 are in negative territory
- Consumer discretionary (-1.33%), utilities (-1.32%), and industrials stocks (-1.31%) are the worst performers in the Euro Stoxx 600
- Market breadth for the Euro Stoxx 600 is notably negative with 513 out of 600 stocks declining today
- Volume across European markets is 10.98% below its 10-day average
- The British Chamber of Commerce forecasts that FY2018 will be the UK’s weakest year of GDP growth since FY2009.
- Italy’s trade balance for April came in at €2.94 billion, which was below expectations (€3.21 billion projected), and was lower than Italy’s trade balance in March (€4.53 billion prior)
Highlights from the European Bond Market
- Italian sovereign treasuries are rallying, with the yield on Italy’s 10-year down 1.9 basis points to 2.574%
- Yield on the German Bund is down 1.1 basis points to 0.391%
- Spanish treasuries are higher as the yield on Spain’s 10-year bond has fallen 2.5 basis points to 1.262%
- Greek bonds are higher today, with the yield on Greece’s 10-year down 2.9 basis points to 4.379%
What is Going on with European Currencies?
- GBP£ is down 0.21%, to GBP£1.3251/USD$
- EUR€ is 0.03% stronger, to EUR€1.1616/USD$
- SEK is 0.18% lower, to SEK0.1136/USD$
*Data in price return.
Euro Stoxx 50 Movers
In local currency.
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|Intesa Sanpaolo SpA
|ING Groep NV
|Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen