09 11 EU PRE OPEN

INDICES
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.

EUROPE ADVANCE/DECLINE
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.

SECTORS vs STOXX 600
3mths relative high: Industrial
3mths relative low: Food & Beverage


INTEREST RATE
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).

ECONOMIC DATA
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%


MORNING TRADING
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.


#UK - IRELAND#
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.


#GERMANY#
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.


#FRANCE#
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.