EU indices significantly up | this morning TA focus on Airbus

European stocks report | Airbus | ING Groep | Swiss Re...

Uptrend 3

Yesterday, European stocks were broadly higher, with the Stoxx Europe 600 Index gaining 1.1%. Both Germany's DAX 30 and the U.K.'s FTSE 100 increased 1.4%, and France's CAC 40 was up 1.5%.

79% of STOXX 600 constituents traded higher yesterday.
70% of the shares trade above their 20D MA vs 59% Wednesday (below the 20D moving average).
24% of the shares trade above their 200D MA vs 22% Wednesday (above the 20D moving average).

The Euro Stoxx 50 Volatility index eased 2.38pts to 32.43, a new 52w high.

3mths relative high: none
3mths relative low: none

Europe Best 3 sectors
retail, basic resources, financial services

Europe worst 3 sectors
health care, automobiles & parts, telecommunications

The 10yr Bund yield rose 7bps to -0.51% (below its 20D MA). The 2yr-10yr yield spread rose 2bps to -21bps (above its 20D MA).

FR : Victory in Europe Day
UK : May Day Bank Holiday
GE 07:00: Mar Balance of Trade, exp.: E20.8B
GE 07:00: Mar Balance of Trade s.a, exp.: E21.6B
GE 07:00: Mar Exports MoM s.a, exp.: 1.3%
GE 07:00: Mar Imports MoM s.a, exp.: -1.6%
GE 07:00: Mar Current Account, exp.: E23.7B
EC 09:00: Eurogroup Video Conference

In Asian trading hours, EUR/USD climbed further to 1.0848 and GBP/USD advanced to 1.2401. USD/JPY was little changed at 106.34. This morning, government data showed that Japan's household spending dropped 6.0% on year in March (-6.5% estimated).

Spot gold extended its rally to $1,719 an ounce.

U.K. stock market is closed for Early May Bank Holiday.

The German Federal Statistical Office reported a trade surplus of 17.4 billion euros in March (18.8 billion euros surplus expected), where exports dropped 11.8% on month (-5.0% expected) and imports slid 5.1% (-4.0% expected).

Airbus, an aircraft manufacturer, reported that it logged net orders for 9 commercial aircraft from its A320 production line from Avolon in April, and total net orders (after cancellations) stood at 299 aircraft, compared with 290 aircraft in March.

Source: GAIN Capital, TradingView

Euronext, a stock exchange operator, reported that total cash market transaction value rose 17.5% on year in April and equity derivatives volume increased 26.1%.

Ferrovial, a sustainable infrastructure operator, reported that 1Q net loss widened to 111 million euros from 98 million euros in the prior-year period, citing a 39 million euros provision for the Airports division due to the COVID-19. Meanwhile, EBITDA totaled 75 million euros, compared with an EBITDA loss of 231 million euros last year, on revenue of 1.38 billion euros, up 12%.

ING Groep, a banking and financial services group, announced that 1Q net income dropped 40.1% on year to 670 million euros, as loan loss provisions jumped to 661 million euros from 207 million euros in the prior-year period. Meanwhile, net interest income grew 0.5% to 3.50 billion euros, while CET1 ratio fell to 14.0% from 14.7% in the same quarter last year.

Galapagos, a pharmaceutical research company, posted 1Q net loss widened to 51 million euros from 49 million euros in the prior-year period, while operating loss narrowed 45 million euros from 53 million euros on revenue of 98 million euros, up from 33 million euros.


Leonardo, an aerospace and defense company, said it swung to a 1Q net loss of 59 million euros from a net profit of 77 million euros in the prior-year period and EBIT sank 80.8% on year to 30 million euros on revenue of 2.59 billion euros, down 4.9%. The company announced the suspension of its 2020 guidance previous disclosed in March due to the COVID-19.

Swiss Re's, an insurance group, "AA-" credit rating outlook was revised to "Negative" from "Stable" at S&P Global Ratings. The rating agency said: "The negative outlook indicates the possibility that we could lower the ratings by one notch if the underwriting performance of Swiss Re's P/C business does not perform broadly in line with our expectations."

Alcon: SF0.19, Hennes & Mauritz: SEK4.9

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