European Stock Market

• Sentiment across European equity markets is notably more positive than it was yesterday, though Euro area stocks have moved well off of today’s earlier highs
• European stocks are mostly higher this morning with the Euro Stoxx 600 +0.17%, the FTSE 100 +0.52%, the CAC40 +0.28%, while the DAX is down 0.05%
• Utilities (+0.91%), information technology (+0.90%), and energy stocks (+0.78%) are the biggest outperformers in the Euro Stoxx 600
• Telecommunications (-0.51%), real estate (-0.47%), and health care stocks (-0.17%) are the most significant decliners today
• Market breadth for the Euro Stoxx 600 is positive with 330 stocks advancing, compared to 252 declines
• Volume across European markets is 11.08% above its 10-day average
• Greece’s credit rating has been upgraded from a B positive, to a B+ stable at S&P
• ECB Executive Board Member Benoit Coeure remarked that the ECB will purchase around $15 billion worth of bonds per month in FY2019, using cash from maturing debt that was acquired during its QE program
• According to a report by The Sun, the EU will attempt to soften British PM Theresa May’s stance on Brexit, by publicly pledging to offer a better deal if she is willing to be more flexible

Highlights from the European Bond Market

• Italian treasuries are selling-off today, with the yield on Italy’s 10-year up 8.8 basis points to 2.901%
• The German Bund is higher, as the yield on Germany’s 10-year fell 0.5 basis points to 0.318%
• Yield on Spain’s 10-year bond has risen 3.2 basis points to 1.374%
• Greek sovereign treasuries are rallying, with the yield on Greece’s 10-year down 1.1 basis points to 4.056%, after the country’s credit was upgraded by S&P

What is Going on with European Currencies?

• EUR€ is 0.26% weaker, to EUR€1.1675/USD$
• GBP£ is down 0.28%, to GBP£1.3245/USD$
• SEK has fallen 0.07%, to SEK0.1129/USD$

*Data in Price Return, Source: Stockdio

Euro Stoxx 50 Movers

In local currency.

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