EU indices down this morning TA focus on Electrocomponents
European stocks report | JD Sports Fashion | HeidelbergCement | Electrocomponents | Cellnex Telecom...
Share this:
INDICES
Yesterday, European stocks advanced further. The Stoxx Europe 600 Index gained 1.58%. Germany's DAX 30 rose 1.64%, France's CAC 40 climbed 1.49%, and the U.K.'s FTSE 100 was up 2.09%.
EUROPE ADVANCE/DECLINE
90% of STOXX 600 constituents traded higher yesterday.
77% of the shares trade above their 20D MA vs 58% Friday (above the 20D moving average).
47% of the shares trade above their 200D MA vs 44% Friday (above the 20D moving average).
The Euro Stoxx 50 Volatility index eased 0.67pt to 27.6, a new 52w high.
SECTORS vs STOXX 600
3mths relative high: Financial Services, Technology
3mths relative low: Telecom., Retail, Food & Beverage, Media
Europe Best 3 sectors
banks, automobiles & parts, technology
Europe worst 3 sectors
utilities, telecommunications, retail
INTEREST RATE
The 10yr Bund yield was unchanged to -0.43% (below its 20D MA). The 2yr-10yr yield spread fell 0bp to -25bps (below its 20D MA).
ECONOMIC DATA
GE 07:00: May Industrial Production MoM, exp.: -17.9%
UK 07:00: Q1 Labour Productivity QoQ final, exp.: 0.3%
FR 07:45: May Current Account, exp.: E-5.4B
FR 07:45: May Balance of Trade, exp.: E-5B
UK 08:30: Jun Halifax House Price Idx MoM, exp.: -0.2%
UK 08:30: Jun Halifax House Price Idx YoY, exp.: 2.6%
MORNING TRADING
In Asian trading hours, EUR/USD eased to 1.1307 while GBP/USD was little changed at 1.2492. USD/JPY edged up to 107.41. This morning, government data showed that Japan's household spending declined 16.2% on year in May (-11.8% expected). AUD/USD slid to 0.6957 ahead of the Reserve Bank of Australia's interest rates decision.
Spot gold slipped to $1,783 an ounce.
#UK - IRELAND#
JD Sports Fashion, a sports-fashion retailer, announced full-year results: "Revenue increased by 30% to £6,110.8 million (2019: £4,717.8 million) with strong total like for like sales growth in global Sports Fashion fascias of 12% including highly encouraging growth of more than 10% in the core UK and Republic of Ireland Sports Fashion fascias. (...) Group EBITDA before exceptional items on a comparable accounting basis increased by 28% to £623.6 million (2019: £488.4 million). (...) Reported profit before tax increased by 3% to £348.5 million (2019: £339.9 million)."
Whitbread, a hotel and restaurant group, reported that 1Q total sales declined 79.4% on year, saying: "In the UK we currently have over 270 hotels open and expect the majority of the remainder of the estate to be open by the end of July. In Germany all of our 19 operational hotels are open, including 13 that were refurbished and rebranded as Premier Inn during the lock-down period. (...) As expected, our Q1 performance reflects the impact of the closure of our hotel and restaurant operations, in both the UK and Germany, at the end of March."
Micro Focus, a software and IT company, posted 1H results: "The Group recorded a goodwill impairment charge of $922.2m in the period (30 April 2019: $nil) attributable to the increased economic uncertainty as a result of COVID-19, (...) As a result, the Group generated a statutory operating loss from continuing operations of $906.7m (30 April 2019: Operating profit of $32.6m)."
Electrocomponents, an industrial and electronics products distributor, issued a 1Q trading update: "Q1 revenue declined 11% on a like-for-like basis with trading trends improving across the quarter as mobility restrictions eased in our key markets. The Group exited the quarter with a like-for-like revenue decline of 7% in June." From a chartist point of view, the share started to consolidate its recent gains. The stock remains in sight of a key resistance at 731p, supported by a rising trendline. Furthermore, the 20DMA is still playing a support role. Above 650p look for a further rise towards the horizontal resistance at 731p.
Yesterday, European stocks advanced further. The Stoxx Europe 600 Index gained 1.58%. Germany's DAX 30 rose 1.64%, France's CAC 40 climbed 1.49%, and the U.K.'s FTSE 100 was up 2.09%.
EUROPE ADVANCE/DECLINE
90% of STOXX 600 constituents traded higher yesterday.
77% of the shares trade above their 20D MA vs 58% Friday (above the 20D moving average).
47% of the shares trade above their 200D MA vs 44% Friday (above the 20D moving average).
The Euro Stoxx 50 Volatility index eased 0.67pt to 27.6, a new 52w high.
SECTORS vs STOXX 600
3mths relative high: Financial Services, Technology
3mths relative low: Telecom., Retail, Food & Beverage, Media
Europe Best 3 sectors
banks, automobiles & parts, technology
Europe worst 3 sectors
utilities, telecommunications, retail
INTEREST RATE
The 10yr Bund yield was unchanged to -0.43% (below its 20D MA). The 2yr-10yr yield spread fell 0bp to -25bps (below its 20D MA).
ECONOMIC DATA
GE 07:00: May Industrial Production MoM, exp.: -17.9%
UK 07:00: Q1 Labour Productivity QoQ final, exp.: 0.3%
FR 07:45: May Current Account, exp.: E-5.4B
FR 07:45: May Balance of Trade, exp.: E-5B
UK 08:30: Jun Halifax House Price Idx MoM, exp.: -0.2%
UK 08:30: Jun Halifax House Price Idx YoY, exp.: 2.6%
MORNING TRADING
In Asian trading hours, EUR/USD eased to 1.1307 while GBP/USD was little changed at 1.2492. USD/JPY edged up to 107.41. This morning, government data showed that Japan's household spending declined 16.2% on year in May (-11.8% expected). AUD/USD slid to 0.6957 ahead of the Reserve Bank of Australia's interest rates decision.
Spot gold slipped to $1,783 an ounce.
#UK - IRELAND#
JD Sports Fashion, a sports-fashion retailer, announced full-year results: "Revenue increased by 30% to £6,110.8 million (2019: £4,717.8 million) with strong total like for like sales growth in global Sports Fashion fascias of 12% including highly encouraging growth of more than 10% in the core UK and Republic of Ireland Sports Fashion fascias. (...) Group EBITDA before exceptional items on a comparable accounting basis increased by 28% to £623.6 million (2019: £488.4 million). (...) Reported profit before tax increased by 3% to £348.5 million (2019: £339.9 million)."
Whitbread, a hotel and restaurant group, reported that 1Q total sales declined 79.4% on year, saying: "In the UK we currently have over 270 hotels open and expect the majority of the remainder of the estate to be open by the end of July. In Germany all of our 19 operational hotels are open, including 13 that were refurbished and rebranded as Premier Inn during the lock-down period. (...) As expected, our Q1 performance reflects the impact of the closure of our hotel and restaurant operations, in both the UK and Germany, at the end of March."
Micro Focus, a software and IT company, posted 1H results: "The Group recorded a goodwill impairment charge of $922.2m in the period (30 April 2019: $nil) attributable to the increased economic uncertainty as a result of COVID-19, (...) As a result, the Group generated a statutory operating loss from continuing operations of $906.7m (30 April 2019: Operating profit of $32.6m)."
Electrocomponents, an industrial and electronics products distributor, issued a 1Q trading update: "Q1 revenue declined 11% on a like-for-like basis with trading trends improving across the quarter as mobility restrictions eased in our key markets. The Group exited the quarter with a like-for-like revenue decline of 7% in June." From a chartist point of view, the share started to consolidate its recent gains. The stock remains in sight of a key resistance at 731p, supported by a rising trendline. Furthermore, the 20DMA is still playing a support role. Above 650p look for a further rise towards the horizontal resistance at 731p.
Source: GAIN Capital, TradingView
Ferrexpo, a commodity trading and mining company, published a 2Q production report: "2Q 2020 pellet production up 5% to 2.9MT (1Q 2020: 2.7MT). (...) 1H 2020 pellet production up 5% to 5.6MT (1H 2019: 5.4MT). (...) 1H 2020 sales volumes increased by c.21% to 6.1MT (1H 2019: 5.0MT), reflecting de-stocking."
SSE, an energy company, was downgraded to "hold" from "buy" at HSBC.
#GERMANY#
German industrial production rose 7.8% on month in May (+11.1% expected), according to the government.
HeidelbergCement, a building materials supplier, reported that it will book a 3.4 billion euros (before tax) impairment of goodwill and tangible fixed assets, citing effects of the COVID 19 pandemic.
Commerzbank, a banking group, was upgraded to "overweight" from "underweight" at Morgan Stanley.
#ITALY#
Italgas, a natural gas distributor, was upgraded to "neutral" from "sell" at Citigroup.
#SWITZERLAND#
Novartis, a pharmaceutical group, said the European Commission has approved its Enerzair Breezhaler, including the first digital companion (sensor and app) that can be prescribed alongside a treatment for uncontrolled asthma.
Credit Suisse, a banking group, was downgraded to "neutral" from "buy" at UBS.
#SCANDINAVIA#
Kone, an engineering group, was downgraded to "sell" from "neutral" at UBS.
EX-DIVIDEND
Axa: E0.73, LVMH: E2.6
INDICES
Yesterday, European stocks advanced further. The Stoxx Europe 600 Index gained 1.58%. Germany's DAX 30 rose 1.64%, France's CAC 40 climbed 1.49%, and the U.K.'s FTSE 100 was up 2.09%.
EUROPE ADVANCE/DECLINE
90% of STOXX 600 constituents traded higher yesterday.
77% of the shares trade above their 20D MA vs 58% Friday (above the 20D moving average).
47% of the shares trade above their 200D MA vs 44% Friday (above the 20D moving average).
The Euro Stoxx 50 Volatility index eased 0.67pt to 27.6, a new 52w high.
SECTORS vs STOXX 600
3mths relative high: Financial Services, Technology
3mths relative low: Telecom., Retail, Food & Beverage, Media
Europe Best 3 sectors
banks, automobiles & parts, technology
Europe worst 3 sectors
utilities, telecommunications, retail
INTEREST RATE
The 10yr Bund yield was unchanged to -0.43% (below its 20D MA). The 2yr-10yr yield spread fell 0bp to -25bps (below its 20D MA).
ECONOMIC DATA
GE 07:00: May Industrial Production MoM, exp.: -17.9%
UK 07:00: Q1 Labour Productivity QoQ final, exp.: 0.3%
FR 07:45: May Current Account, exp.: E-5.4B
FR 07:45: May Balance of Trade, exp.: E-5B
UK 08:30: Jun Halifax House Price Idx MoM, exp.: -0.2%
UK 08:30: Jun Halifax House Price Idx YoY, exp.: 2.6%
MORNING TRADING
In Asian trading hours, EUR/USD eased to 1.1307 while GBP/USD was little changed at 1.2492. USD/JPY edged up to 107.41. This morning, government data showed that Japan's household spending declined 16.2% on year in May (-11.8% expected). AUD/USD slid to 0.6957 ahead of the Reserve Bank of Australia's interest rates decision.
Spot gold slipped to $1,783 an ounce.
#UK - IRELAND#
JD Sports Fashion, a sports-fashion retailer, announced full-year results: "Revenue increased by 30% to £6,110.8 million (2019: £4,717.8 million) with strong total like for like sales growth in global Sports Fashion fascias of 12% including highly encouraging growth of more than 10% in the core UK and Republic of Ireland Sports Fashion fascias. (...) Group EBITDA before exceptional items on a comparable accounting basis increased by 28% to £623.6 million (2019: £488.4 million). (...) Reported profit before tax increased by 3% to £348.5 million (2019: £339.9 million)."
Whitbread, a hotel and restaurant group, reported that 1Q total sales declined 79.4% on year, saying: "In the UK we currently have over 270 hotels open and expect the majority of the remainder of the estate to be open by the end of July. In Germany all of our 19 operational hotels are open, including 13 that were refurbished and rebranded as Premier Inn during the lock-down period. (...) As expected, our Q1 performance reflects the impact of the closure of our hotel and restaurant operations, in both the UK and Germany, at the end of March."
Micro Focus, a software and IT company, posted 1H results: "The Group recorded a goodwill impairment charge of $922.2m in the period (30 April 2019: $nil) attributable to the increased economic uncertainty as a result of COVID-19, (...) As a result, the Group generated a statutory operating loss from continuing operations of $906.7m (30 April 2019: Operating profit of $32.6m)."
Electrocomponents, an industrial and electronics products distributor, issued a 1Q trading update: "Q1 revenue declined 11% on a like-for-like basis with trading trends improving across the quarter as mobility restrictions eased in our key markets. The Group exited the quarter with a like-for-like revenue decline of 7% in June." From a chartist point of view, the share started to consolidate its recent gains. The stock remains in sight of a key resistance at 731p, supported by a rising trendline. Furthermore, the 20DMA is still playing a support role. Above 650p look for a further rise towards the horizontal resistance at 731p.
Yesterday, European stocks advanced further. The Stoxx Europe 600 Index gained 1.58%. Germany's DAX 30 rose 1.64%, France's CAC 40 climbed 1.49%, and the U.K.'s FTSE 100 was up 2.09%.
EUROPE ADVANCE/DECLINE
90% of STOXX 600 constituents traded higher yesterday.
77% of the shares trade above their 20D MA vs 58% Friday (above the 20D moving average).
47% of the shares trade above their 200D MA vs 44% Friday (above the 20D moving average).
The Euro Stoxx 50 Volatility index eased 0.67pt to 27.6, a new 52w high.
SECTORS vs STOXX 600
3mths relative high: Financial Services, Technology
3mths relative low: Telecom., Retail, Food & Beverage, Media
Europe Best 3 sectors
banks, automobiles & parts, technology
Europe worst 3 sectors
utilities, telecommunications, retail
INTEREST RATE
The 10yr Bund yield was unchanged to -0.43% (below its 20D MA). The 2yr-10yr yield spread fell 0bp to -25bps (below its 20D MA).
ECONOMIC DATA
GE 07:00: May Industrial Production MoM, exp.: -17.9%
UK 07:00: Q1 Labour Productivity QoQ final, exp.: 0.3%
FR 07:45: May Current Account, exp.: E-5.4B
FR 07:45: May Balance of Trade, exp.: E-5B
UK 08:30: Jun Halifax House Price Idx MoM, exp.: -0.2%
UK 08:30: Jun Halifax House Price Idx YoY, exp.: 2.6%
MORNING TRADING
In Asian trading hours, EUR/USD eased to 1.1307 while GBP/USD was little changed at 1.2492. USD/JPY edged up to 107.41. This morning, government data showed that Japan's household spending declined 16.2% on year in May (-11.8% expected). AUD/USD slid to 0.6957 ahead of the Reserve Bank of Australia's interest rates decision.
Spot gold slipped to $1,783 an ounce.
#UK - IRELAND#
JD Sports Fashion, a sports-fashion retailer, announced full-year results: "Revenue increased by 30% to £6,110.8 million (2019: £4,717.8 million) with strong total like for like sales growth in global Sports Fashion fascias of 12% including highly encouraging growth of more than 10% in the core UK and Republic of Ireland Sports Fashion fascias. (...) Group EBITDA before exceptional items on a comparable accounting basis increased by 28% to £623.6 million (2019: £488.4 million). (...) Reported profit before tax increased by 3% to £348.5 million (2019: £339.9 million)."
Whitbread, a hotel and restaurant group, reported that 1Q total sales declined 79.4% on year, saying: "In the UK we currently have over 270 hotels open and expect the majority of the remainder of the estate to be open by the end of July. In Germany all of our 19 operational hotels are open, including 13 that were refurbished and rebranded as Premier Inn during the lock-down period. (...) As expected, our Q1 performance reflects the impact of the closure of our hotel and restaurant operations, in both the UK and Germany, at the end of March."
Micro Focus, a software and IT company, posted 1H results: "The Group recorded a goodwill impairment charge of $922.2m in the period (30 April 2019: $nil) attributable to the increased economic uncertainty as a result of COVID-19, (...) As a result, the Group generated a statutory operating loss from continuing operations of $906.7m (30 April 2019: Operating profit of $32.6m)."
Electrocomponents, an industrial and electronics products distributor, issued a 1Q trading update: "Q1 revenue declined 11% on a like-for-like basis with trading trends improving across the quarter as mobility restrictions eased in our key markets. The Group exited the quarter with a like-for-like revenue decline of 7% in June." From a chartist point of view, the share started to consolidate its recent gains. The stock remains in sight of a key resistance at 731p, supported by a rising trendline. Furthermore, the 20DMA is still playing a support role. Above 650p look for a further rise towards the horizontal resistance at 731p.
Source: GAIN Capital, TradingView
Ferrexpo, a commodity trading and mining company, published a 2Q production report: "2Q 2020 pellet production up 5% to 2.9MT (1Q 2020: 2.7MT). (...) 1H 2020 pellet production up 5% to 5.6MT (1H 2019: 5.4MT). (...) 1H 2020 sales volumes increased by c.21% to 6.1MT (1H 2019: 5.0MT), reflecting de-stocking."
SSE, an energy company, was downgraded to "hold" from "buy" at HSBC.
#GERMANY#
German industrial production rose 7.8% on month in May (+11.1% expected), according to the government.
HeidelbergCement, a building materials supplier, reported that it will book a 3.4 billion euros (before tax) impairment of goodwill and tangible fixed assets, citing effects of the COVID 19 pandemic.
Commerzbank, a banking group, was upgraded to "overweight" from "underweight" at Morgan Stanley.
#ITALY#
Italgas, a natural gas distributor, was upgraded to "neutral" from "sell" at Citigroup.
#SWITZERLAND#
Novartis, a pharmaceutical group, said the European Commission has approved its Enerzair Breezhaler, including the first digital companion (sensor and app) that can be prescribed alongside a treatment for uncontrolled asthma.
Credit Suisse, a banking group, was downgraded to "neutral" from "buy" at UBS.
#SCANDINAVIA#
Kone, an engineering group, was downgraded to "sell" from "neutral" at UBS.
EX-DIVIDEND
Axa: E0.73, LVMH: E2.6
Related tags:
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
EUR/USD weekly outlook: Oil, inflation and NFP in focus
After coming under significant pressure in recent weeks, the EUR/USD came off its lows to finish the week on a positive note on Friday, albeit with only a mild rebound. That was not enough to prevent the exchange rate falling for the third consecutive week, as the US dollar and bond yields rallied across the board.
EUR/USD Q4 2026 Outlook: Euro at a Crossroads as Fed, ECB Tighten 9 25 2026
EUR/USD enters Q4 at a pivotal inflection point as competing Fed-ECB policy paths and persistent inflation risks collide with major technical support.
USD/JPY Q4 2026 Outlook: Hawkish Fed Pricing Clashes With Intervention Risk
The year-end tug-of-war is clear: hawkish Fed pricing supports USD/JPY, while intervention risk limits the upside.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.