EU indices up | TA focus on L'Oreal


European stocks report | AstraZeneca | Infineon Technologies | Volkswagen | EQT...

Friday, European stocks were broadly lower. The Stoxx Europe 600 slipped 0.20%, Germany's DAX dropped 0.70%, France's CAC 40 fell 0.46%, while the U.K.'s FTSE 100 was little changed.

62% of STOXX 600 constituents traded lower or unchanged Friday.
64% of the shares trade above their 20D MA vs 66% Thursday (above the 20D moving average).
59% of the shares trade above their 200D MA vs 59% Thursday (above the 20D moving average).

The Euro Stoxx 50 Volatility index eased 0.76pt to 25.62, a new 52w high.

3mths relative high: Industrial
3mths relative low: Food & Beverage

The 10yr Bund yield was unchanged to -0.64% (below its 20D MA). The 2yr-10yr yield spread fell 1bp to -16bps (above its 20D MA).

GE 08:00: Sep Current Account, exp.: E16.5B
GE 08:00: Sep Imports MoM s.a, exp.: 5.8%
GE 08:00: Sep Exports MoM s.a, exp.: 2.4%
GE 08:00: Sep Balance of Trade s.a, exp.: E15.7B
GE 08:00: Sep Balance of Trade, exp.: E12.8B
FR 15:00: 3-Mth BTF auction, exp.: -0.68%
FR 15:00: 12-Mth BTF auction, exp.: -0.65%
FR 15:00: 6-Mth BTF auction, exp.: -0.65%

In Asian trading hours, EUR/USD extend its rally to 1.1890 and GBP/USD rose to 1.3180. USD/JPY edged up to 103.40.

Spot gold climbed to $1,956 an ounce.

AstraZeneca, a pharmaceutical giant, said its Calquence has been approved in the E.U. for the treatment of chronic lymphocytic leukaemia.

Aviva, an international insurance firm, formed a bullish gap on a daily chart last Friday (November 6).

Anglo American, a mining company, was upgraded to "overweight" from "equalweight" at Morgan Stanley.

Infineon Technologies, a semiconductor manufacturer, reported a 4Q net income of 109 million euros, compared with a net loss of 128 million euros in the prior quarter, and revenue rose 15% on quarter to 2.49 billion euros. The company sees 1Q 2021 revenue of 2.4 - 2.7 billion euros and full-year 2021 revenue of around 10.5 billion euros (plus or minus 5%).

Volkswagen's, an automobile group, Traton announced that it has agreed to acquire the remaining shares of Navistar not already owned for 44.50 dollars per share in cash, representing approximately 3.7 billion dollars.

Danone, a French food-processing firm, marked an INSIDE BAR last Friday (November 6) suggesting short-term bullishness ahead.

BioMerieux, a specialist in the diagnosis of infectious diseases, closed ABOVE its 21-Day Moving Average last Friday (November 6) for the first time since October 19.  

L'Oreal, a personal care company, was upgraded to "equalweight" from "underweight" at Morgan Stanley.

From a technical point of view, prices have recently escaped from a symmetrical triangle in place since June 2020. Furthermore, the stock has pulled back on the pattern's upper boundary, while the 6-month moving average has supported the stock's rebound. Above 275E, targets are set at 330E and 350E in extension.

Source: TradingView, GAIN Capital

EQT, an investment group, is planning an IPO for its 5 billion euros German software company SUSE, reported Bloomberg citing people familiar with the matter.

More from Equities

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

Open an Account