European Stock Market

• European equity markets were trading higher today but have reversed and are now in the red. Softer than expected EU trade data has turned investor outlook negative. European stocks are broadly lower, with the Euro Stoxx 600 -0.34%, the FTSE 100 -1.12%, the DAX -0.12%, and the CAC 40 -0.39%. European currencies are mostly stronger against the USD$, while the EU bond market has a negative bias
• Energy (-1.01%), telecommunications (-0.98%), and consumer discretionary stocks (-0.80%) are the biggest laggards in the Euro Stoxx 600
• Industrials (+0.04%) are the only sotcks in the Euro Stoxx 600 in positive territory, with real estate (-0.10%) and financials stocks (-0.11%) being the next best performers
• Market breadth for the Euro Stoxx 600 is decidedly negative with 260 stocks advancing compared to 322 declines
• Volume across European equity markets is 20.72% below its 10-day average
• The Eurozone’s trade surplus for May came in at €16.9 billion, which was lower than expected (€19 billion surplus projected)
• Spain’s growth in industrial orders in May was firmly below growth in April (+6.8% Y/Y in May vs +12.8% Y/Y in April)

Highlights from the European Bond Market

• Italian treasuries are selling-off, with the yield on Italy’s 10-year up 2.7 basis points to 2.568%
• Yield on the German Bund is up 0.9 basis points to 0.345%
• French sovereign treasuries are lower today, with the yield on France’s 10-year 1.4 basis points higher to 0.627%
• Swiss 10-year bonds are down, as the yield on Switzerland’s 10-year has risen 1.8 basis points to -0.125%

What is Going on with European Currencies?

• EUR€ is 0.27% stronger, to EUR€/USD$ -- 1.17179
• GBP£ is up 0.41%, to GBP£/USD$ --1.3278
• SEK is 0.68% higher, to SEK/USD$ -- 0.1134
• CHF has appreciated 0.37%, to CHF/USD$ -- 1.0022

*Data in Price Return; Source: Stockdio

Euro Stoxx 50 Movers

In local currency.

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