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European Stocks at Midday

Jul 10, 2018

European Stock Market                                                                                                                                                                                Start Your Free Trial Today

  • Positive sentiment in European markets continues today, as investor focus shifts from Sino-American trade tensions to 2Q2018 earnings season. Industrial production data out of Europe came in broadly below expectations. European currencies are mostly weaker against the USD$
  • European stocks are broadly higher with the Euro Stoxx 600 +0.50%, the FTSE 100 +0.18%, the DAX +0.49%, and the CAC 40 +0.62%
  • Energy (+1.41%), health care (+0.81%), and information technology stocks (+0.77%) were the biggest outperformers in the Euro Stoxx 600
  • Telecommunications (-0.75%), financials (-0.24%), and utilities (-0.22%) were the only sectors in negative territory
  • Market breadth for Euro Stoxx 600 is positive with 366 stocks advancing while 208 stocks decline
  • Volume across Europe is 16.58% below its 10-day average
  • The UK’s industrial production rose 0.8% Y/Y in May, which was well below expectations (+1.9% Y/Y growth projected). Manufacturing production growth in May also came in softer than forecasted (+1.1% Y/Y vs +2.0% Y/Y consensus)
  • French industrial production in May fell 0.2% M/M, which contrasted estimates (+0.6% M/M anticipated)
  • Italian industrial production in May increased by 2.1% Y/Y, which was lower than the consensus (+2.7% Y/Y projected)

Highlights from the European Bond Market

  • UK sovereign treasuries are selling-off, with the yield on the UK 10-year up 3.9 basis points to 1.290%
  • Yield on the German Bund has risen 2.0 basis points to 0.317%
  • Spanish treasuries are higher today, as the yield on Spain’s 10-year is down 1.3 basis points to 1.273%
  • Italian 10-year bonds are lower, with the yield on Italy’s 10-year up 1.0 basis point to 2.667%

What is Going on with European Currencies?

  • European currencies are broadly weaker against the USD$
  • EUR€ is down 0.33%, to EUR€0.8543/USD$
  • GBP£ is 0.03% lower, to GBP£0.7547/USD$
  • CHF is 0.35% weaker, to CHF0.9950/USD$
  • SEK has depreciated 0.23%, to SEK8.7577/USD$

*Data in price return.

Euro Stoxx 50 Movers

In local currency.

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Outperformers Ticker Price Chg % Chg Volume
Airbus SE ENXTPA:AIR 102.72 3.32 3.34% 687.99k
Deutsche Post AG XTRA:DPW 28.46 0.64 2.30% 2.02M
Eni SpA BIT:ENI 16.61 0.3 1.83% 5.55M
Siemens AG DB:SIE 117.5 1.68 1.45% 639.49k
Bayer AG DB:BAYN 95.41 1.36 1.45% 599.29k

 

Underperformers Ticker Price Chg % Chg Volume
Banco Bilbao Vizcaya Argentaria SA BME:BBVA 6.25 -0.12 -1.85% 10.55M
Orange SA ENXTPA:ORA 14.8 -0.1 -0.64% 2.10M
Telefonica SA BME:TEF 7.66 -0.04 -0.52% 3.99M
Banco Santander SA BME:SAN 4.78 -0.02 -0.49% 11.87M
Anheuser-Busch InBev SA/NV ENXTBR:ABI 88.33 -0.38 -0.43% 437.13k