Yesterday, European equities were generally weaker. The Stoxx Europe 600 fell 0.75%, Germany’s DAX fell 0.88%, France’s CAC 40 fell 0.67% and the UK’s FTSE 100 lost 0, 80%.
ADVANCED / REFUSAL EUROPE
72% of the components of the STOXX 600 were traded down or unchanged yesterday.
82% of stocks are trading above their 20D MA vs. 84% on Wednesday (above 20D moving average).
83% of stocks are trading above their MA 200D vs. 85% on Wednesday (above the 20D moving average).
The Euro Stoxx 50 volatility index added 1.07pt to 21.97, a new high of 52w.
SECTORS vs STOXX 600
Relatively high 3 months: Cars
Relatively low 3 months: none
Europe 3 best sectors
retail, energy, basic resources
Europe the worst 3 sectors
banks, automobiles and parts, insurance
The 10-year Bund yield rose 1bp to -0.55% (above its MA 20D). The 2yr-10yr yield spread increased 1bp to -16bp (above its MA 20D).
UK 01:01: Nov GfK Consumer Confidence, exp .: -31
GE 08:00: Oct PPI YoY, exp .: -1%
GE 08:00: Oct PPI MoM, exp: 0.4%
United Kingdom 8:00 a.m .: Net public sector borrowing in October, ex .: – £ 36.1bn
UK 8:00 am: Retail sales Oct Excluding MoM fuel, exp: 1.6%
UK 8:00 a.m .: Retail sales from Oct. Excluding fuel over one year, exp .: 6.4%
UK 8am: October retail sales per year, exp: 4.7%
UK 8:00 am: Retail MoM Oct, Exp: 1.5%
GE 2:00 p.m .: Speech by Bundesbank Weidmann
EC 4:00 p.m .: November consumer confidence flash, exp .: -15.5
In Asian trading hours, EUR / USD was little changed at 1.1875 and GBP / USD was broadly flat at 1.3265. USD / JPY edged up to 103.82. AUD / USD remained moderate at 0.7289. This morning, official data showed Australia’s preliminary retail sales were up 1.6% from October (-1.1% in September).
Spot gold slipped to $ 1,864 an ounce.
#UK – IRELAND #
AstraZeneca, a pharmaceutical group, said its “Imfinzi (durvalumab) has been approved in the United States for an additional dosing option, a fixed dose of 1,500 mg every four weeks, in the approved indications for non-lung cancer. unresectable stage III small cell (NSCLC) after treatment with chemoradiotherapy (CRT) and previously treated advanced bladder cancer ”.
From a technical standpoint, the stock has slipped out of a falling wedge since June 2020. Despite the recent pullback, as long as 7770p is support, look for 8800p and the previous high of 10120p. Alternatively, a break below 7770p should be limited by a longer term bullish trendline.
Source: TradingView, GAIN Capital
Talanx, a financial services company, has been demoted to “keep” from “buy” at HSBC.
BNP Paribas, a banking group, could sell its Italian payment unit Axepta for 200 million euros, Bloomberg reported citing people familiar with the matter.
# BENELUX #
Altice Europe, a telecommunications company, announced that 3Q adjusted EBITDA grew 5.1% year-on-year to € 1.48 billion on revenue of € 3.77 billion, up 3.2% (+ 4.1% at constant exchange rates).
ABB, an automation technology company, has been demoted to “sell” to Deutsche Bank.
Swatch Group, a manufacturer of watches and jewelry, has been demoted to “hold” from “buy” at HSBC.