Yesterday, almost all European markets closed in the green on the back of a rally in the Auto sector (+2.4%). Peugeot’s comments regarding Fiat Chrysler (FCA.IT; FCA:IM) being an option for a merger fuelled this gain. The U.K.’s FTSE 100 and France’s CAC were up 0.34% and 0.24%, respectively, on lower volumes. Germany’s DAX gained 1.13% on lower volume.
Author: Veera Manju
WON Europe Today
Yesterday, major European markets except Germany closed in the green on the back of a spike in the financial sector following merger talks between Deutsche Bank (DBKX.DE; DBK:GR) and Commerzbank (CBKX.DE; CBKX:GR). The Stoxx 600 closed in positive territory for the fourth consecutive day. The U.K.’s FTSE 100 and France’s CAC were up 0.95% and 0.14%, respectively, on lower volumes. Germany’s DAX was down by 0.25% on lower volume.
- The Stoxx 600 closed 0.26% in the green, with lower volume.
- The index’s distribution days have come down to four from five after it closed above 381.99 yesterday, gaining more than 5% within five weeks.
- The top-performing sectors were Financial Services and Banks, while the biggest loser was Travel & Leisure.
- The only country that closed in negative territory was Germany.
WON Europe Today
We released our weekly Global Laggards report today (please click here to access the report). The stocks highlighted in this report are laggards relative to their own domestic markets. We recommend that they be underweighted as they may be vulnerable to further downside risk and underperformance. European names highlighted this week include Infineon Technologies (IFXX.DE; IFX:GR).
WON Europe Today
Yesterday, European markets except Finland closed higher ahead of the no-deal Brexit voting process. The U.K. Parliament voted against it, in line with consensus expectations.
- The Stoxx 600 was up 0.63%, gaining some strength above its 200-DMA. It remains in a Confirmed Uptrend.
- France’s CAC 40, Germany’s DAX, and the U.K.’s FTSE 100 were up 0.69%, 0.42%, and 0.11%, respectively. France and Germany’s indices continue to face resistance near the 40-WMA, while the U.K. trades below it.
WON Europe Today
On Tuesday, European markets closed mixed amid the U.K. Parliament’s rejection of Prime Minister Theresa May’s revised Brexit plan. Among the sectors, Retail was boosted by a 6% rise in the shares of Mothercare (MTC.GB; MTC:LN) owing to its plan to sell the Early Learning Centre brand and reduce its debt.
- The Stoxx 600 was down marginally by 0.06%. The index is still above its 200-DMA and has registered six distribution days. It remains in a Confirmed Uptrend.
- The U.K.’s FTSE 100 and France’s CAC 40 and were up 0.29% and 0.08%, respectively, while Germany’s DAX slid down 0.17%. While France and Germany’s indices struggle to bounce from their 40-WMA, the U.K.’s index remains below it.
WON Europe Today
Yesterday, all European markets, except Norway, closed in the green, ahead of a key vote in the U.K. that will decide the fate of the Brexit deal. The Banking sector also enabled European markets end on a positive note.
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The Stoxx 600 climbed 0.78%, turning positive after recording a 0.98% loss over the last week. The index is gaining above its 200-DMA and remains in a Confirmed Uptrend.
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Germany’s DAX rose 0.75%, prompted by an increase in share prices of Deutsche Bank (DBKX.DE; DBK:GR) and Commerzbank (CBKX.DE; CBK:GR) amid the possibility of a merger. France’s CAC 40 increased 0.66%, still struggling to bounce from the 40-WMA resistance, while the U.K.’s FTSE 100 was up 0.37% but continues to trade below the 40-WMA.
WON Global View
The U.S. market is in an Uptrend Under Pressure. The S&P 500 and Nasdaq bounced back +1.5% and 2%, respectively, regaining their 200-DMAs, after last week’s heavy sell-off. Large cap technology primarily led the move higher. We would like to see price action hold and consolidate above the 200-DMA for a few sessions before moving the market back to a Confirmed Uptrend.
WON Europe Today
We released our weekly Global Laggards report today (please click here to access the report). The stocks highlighted in this
report are laggards relative to their own domestic markets. We recommend that they be underweighted as they may be
vulnerable to further downside risk and underperformance. European names highlighted this week include Credit
Agricole (CRDA.FR; ACA:FP).
WON Europe Today
Yesterday,
- Most European markets closed in the red after the OECD further revised down its global growth outlook and data showed the U.S. trade deficit reached a decade high.
- The pan-European Stoxx 600 closed 0.04% lower. While Basic Resources and Oil & Gas advanced well, the Auto sector lost almost a percentage and dragged the index down.
- Among major bourses, the U.K.’s FTSE 100 advanced 0.17%, while Germany’s DAX and France’s CAC 40 lost 0.28% and 0.16%, respectively.
- Germany, Sweden, and Belgium had a distribution day. The only countries to close in the green were the U.K., Norway, Italy, Portugal, and Spain.
- All 17 indices that we cover continue to be in a Confirmed Uptrend, amid increasing distribution days.
WON Europe Today
Yesterday,
European markets continued to trade higher with rising volume, indicating increased investor confidence. A slew of positive
economic data from the region helped buoyant market sentiments.
The pan‐European Stoxx 600 closed 0.15% higher, reversing early losses in the day. Telecommunication, Health Care, and Real
Estate stocks were leading the gains, while Auto, Banks, and Media dragged the index down.
Among the major bourses, the U.K.’s FTSE 100 took the lead and gained 0.69%, followed by Germany’s DAX, which rose 0.24%
and reached a three‐month high. France’s CAC 40 closed 0.21% higher.
The only countries to close in negative territory were Finland, Austria, Italy, Spain, Belgium, and Luxembourg.
