EU indices slightly down | TA focus on Kingspan

,

European stocks report | Kingspan | Sanofi | BNP Paribas | Unibail-Rodamco-Westfield...

Stocks (2)

INDICES

Yesterday, European stocks were mixed. The Stoxx Europe 600 Index gained 0.72%, Germany's DAX 30 rose 0.67% and France's CAC 40 climbed 0.66%, while the U.K.'s FTSE 100 declined 0.25%.

EUROPE ADVANCE/DECLINE
68% of STOXX 600 constituents traded higher yesterday.
79% of the shares trade above their 20D MA vs 73% Friday (above the 20D moving average).
64% of the shares trade above their 200D MA vs 63% Friday (above the 20D moving average).

The Euro Stoxx 50 Volatility index added 0.02pt to 22.25, a new 52w high.

SECTORS vs STOXX 600
3mths relative high: Industrial
3mths relative low: none

Europe Best 3 sectors
utilities, technology, automobiles & parts

Europe worst 3 sectors
travel & leisure, energy, banks


INTEREST RATE
The 10yr Bund yield was unchanged to -0.53% (below its 20D MA). The 2yr-10yr yield spread rose 0bp to -18bps (above its 20D MA).


ECONOMIC DATA
GE 07:00: Sep Inflation Rate MoM final, exp.: -0.1%
GE 07:00: Sep Harmonised Inflation Rate YoY final, exp.: -0.1%
GE 07:00: Sep Harmonised Inflation Rate MoM final, exp.: -0.2%
GE 07:00: Sep Inflation Rate YoY final, exp.: 0%
UK 07:00: Aug Average Earnings excl. Bonus, exp.: 0.2%
UK 07:00: Aug Average Earnings incl. Bonus, exp.: -1%
UK 07:00: Aug Unemployment Rate, exp.: 4.1%
UK 07:00: Sep Claimant Count chg, exp.: 73.7K
UK 07:00: Jul Employment chg, exp.: -12K
UK 07:00: Q2 Labour Productivity QoQ final, exp.: -1.3%
EC 10:00: Oct ZEW Economic Sentiment Idx, exp.: 73.9
GE 10:00: Bundesbank Wuermeling speech
GE 10:00: Bundesbank Buch speech
GE 10:00: Oct ZEW Current Conditions, exp.: -66.2
GE 10:00: Oct ZEW Economic Sentiment Idx, exp.: 77.4
GE 13:00: Bundesbank Wuermeling speech


MORNING TRADING
In Asian trading hours, EUR/USD dropped to 1.1794 and GBP/USD eased to 1.3041. USD/JPY slid to 105.37.

Spot gold extended its decline to $1,913 an ounce.


#UK - IRELAND#
Kingspan, a building materials company, was upgraded to "buy" from "hold" at Societe Generale.
From a daily point of view, the stock remains on the upside, supported by a rising trend line drawn since March. Above the horizontal support at 71.5p, look for 83p and 92p in extension.


Source: GAIN Capital, TradingView


#GERMANY#
Evotec, a drug discovery and development company, said Mubadala Investment Company and Novo Holdings will subscribe a total of 11,478,315 new shares of the company for 250 million euros (21.7802 euros per share).


#FRANCE#
Sanofi, a pharmaceutical group, reported that a phase 3 trial of its Dupixent met the primary and all key secondary endpoints in children aged 6 to 11 years with uncontrolled moderate-to-severe asthma.

BNP Paribas', a banking group, "A+" credit rating outlook was revised to "Negative" from "Watch Negative" by Fitch. The rating agency said: "The Negative Outlook on BNPP's Long-Term IDR reflects downside risks to our baseline scenario, as pressure on the ratings would increase substantially if the downturn is deeper or more prolonged than we currently expect."

Vinci, a concessions and construction company, is expected to report 3Q traffic figures for its airports.


#BENELUX#
Unibail-Rodamco-Westfield, a commercial real estate company, announced that it has agreed to sell the SHiFT office building in Paris to a consortium of French institutional investors for 620 million euros.


#SWITZERLAND#
Adecco, a recruitment services provider, was upgraded to "overweight" from "neutral" at JPMorgan.


#DENMARK#
Rockwool International, a Danish manufacturer of mineral wool products, was upgraded to "hold" from "sell" at Societe Generale.

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 Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.