EU indices still rise this morning TA focus on HSBC
European stocks report | Aston Martin | HSBC | Sanofi...
Share this:
INDICES
Yesterday, European stocks were broadly higher, with the Stoxx Europe 600 Index rising 1.5%. Germany's DAX 30 surged 2.9%, and France's CAC 40 gained 2.2%. The U.K. market was closed for a bank holiday.
EUROPE ADVANCE/DECLINE
67% of STOXX 600 constituents traded higher yesterday.
78% of the shares trade above their 20D MA vs 63% Friday (below the 20D moving average).
31% of the shares trade above their 200D MA vs 26% Friday (above the 20D moving average).
The Euro Stoxx 50 Volatility index eased 2.26pts to 29.16, a new 52w high.
SECTORS vs STOXX 600
3mths relative high: Technology
3mths relative low: Insurance, Banks
Europe Best 3 sectors
construction & materials, technology, industrial goods & services
Europe worst 3 sectors
basic resources, retail, media
INTEREST RATE
The 10yr Bund yield rose 1bp to -0.49% (above its 20D MA). The 2yr-10yr yield spread rose 1bp to -18bps (above its 20D MA).
ECONOMIC DATA
GE 07:00: Jun GfK Consumer Confidence, exp.: -23.4
FR 07:45: May Business Confidence, exp.: 82
FR 07:45: May Business Climate Indicator, exp.: 62
GE 10:40: 2-Year Schatz auction, exp.: -0.68%
UK 11:00: May CBI Distributive Trades, exp.: -55
MORNING TRADING
In Asian trading hours, EUR/USD fell to 1.0894 while GBP/USD rebounded to 1.2180. USD/JPY edged up to 107.68.
Spot gold rebounded to $1,732 an ounce.
#UK - IRELAND#
Aston Martin, a luxury sports cars manufacturer, announced that Tobias Moers, currently Chairman and CEO of Mercedes-AMG, will succeed Andy Palmer as CEO.
HSBC, a global banking group, is considering a restructuring plan, including possible sale of its U.S. business and retail network in France, reported the Financial times citing people familiar with the matter. From a chartist point of view, a rebound is expected close to the lower end of a broadening formation in place since 2009.
Source: GAIN Capital, TradingView
Mondi, a packaging and paper group, announced the appointment of Mike Powell, currently CFO of Ferguson, as new CFO.
Softcat, a provider of IT infrastructure products and services, posted a 3Q trading update: "The Company has traded satisfactorily during the period and delivered growth in revenue, gross profit and operating profit. Cash receipts from customers have remained broadly in line with normal trends."
Kainos Group, an IT services provider, released full-year results: "Kainos achieved revenue of £178.8 million (2019: £151.3 million), representing an increase of 18%. (...) Adjusted pre-tax profit increased by 9% to £25.5 million (2019: £23.3 million). Statutory profit before tax increased by 10% to £23.2 million (2019: £21.1 million)."
#FRANCE#
Sanofi, a pharmaceutical group, announced plans to sell its equity investment in U.S. biotechnology company Regeneron Pharmaceuticals through a registered public offering and related share repurchase by Regeneron. The sale would be valued at about 13 billion dollars, according to Bloomberg.
Klepierre, a shopping mall operator, reported that it has reopened 80% of its European malls and expects to hit 90% within the next 10 days.
#SPAIN#
Iberdrola, a Spanish electric utility company, was upgraded to "buy" from "neutral" at Goldman Sachs.
Telefonica, a telecommunications company, was downgraded to "equalweight" from "overweight" at Barclays.
#ITALY#
UniCredit, an Italian bank, was downgraded to "neutral" from "overweight" at JPMorgan.
Yesterday, European stocks were broadly higher, with the Stoxx Europe 600 Index rising 1.5%. Germany's DAX 30 surged 2.9%, and France's CAC 40 gained 2.2%. The U.K. market was closed for a bank holiday.
EUROPE ADVANCE/DECLINE
67% of STOXX 600 constituents traded higher yesterday.
78% of the shares trade above their 20D MA vs 63% Friday (below the 20D moving average).
31% of the shares trade above their 200D MA vs 26% Friday (above the 20D moving average).
The Euro Stoxx 50 Volatility index eased 2.26pts to 29.16, a new 52w high.
SECTORS vs STOXX 600
3mths relative high: Technology
3mths relative low: Insurance, Banks
Europe Best 3 sectors
construction & materials, technology, industrial goods & services
Europe worst 3 sectors
basic resources, retail, media
INTEREST RATE
The 10yr Bund yield rose 1bp to -0.49% (above its 20D MA). The 2yr-10yr yield spread rose 1bp to -18bps (above its 20D MA).
ECONOMIC DATA
GE 07:00: Jun GfK Consumer Confidence, exp.: -23.4
FR 07:45: May Business Confidence, exp.: 82
FR 07:45: May Business Climate Indicator, exp.: 62
GE 10:40: 2-Year Schatz auction, exp.: -0.68%
UK 11:00: May CBI Distributive Trades, exp.: -55
MORNING TRADING
In Asian trading hours, EUR/USD fell to 1.0894 while GBP/USD rebounded to 1.2180. USD/JPY edged up to 107.68.
Spot gold rebounded to $1,732 an ounce.
#UK - IRELAND#
Aston Martin, a luxury sports cars manufacturer, announced that Tobias Moers, currently Chairman and CEO of Mercedes-AMG, will succeed Andy Palmer as CEO.
HSBC, a global banking group, is considering a restructuring plan, including possible sale of its U.S. business and retail network in France, reported the Financial times citing people familiar with the matter. From a chartist point of view, a rebound is expected close to the lower end of a broadening formation in place since 2009.
Source: GAIN Capital, TradingView
Mondi, a packaging and paper group, announced the appointment of Mike Powell, currently CFO of Ferguson, as new CFO.
Softcat, a provider of IT infrastructure products and services, posted a 3Q trading update: "The Company has traded satisfactorily during the period and delivered growth in revenue, gross profit and operating profit. Cash receipts from customers have remained broadly in line with normal trends."
Kainos Group, an IT services provider, released full-year results: "Kainos achieved revenue of £178.8 million (2019: £151.3 million), representing an increase of 18%. (...) Adjusted pre-tax profit increased by 9% to £25.5 million (2019: £23.3 million). Statutory profit before tax increased by 10% to £23.2 million (2019: £21.1 million)."
#FRANCE#
Sanofi, a pharmaceutical group, announced plans to sell its equity investment in U.S. biotechnology company Regeneron Pharmaceuticals through a registered public offering and related share repurchase by Regeneron. The sale would be valued at about 13 billion dollars, according to Bloomberg.
Klepierre, a shopping mall operator, reported that it has reopened 80% of its European malls and expects to hit 90% within the next 10 days.
#SPAIN#
Iberdrola, a Spanish electric utility company, was upgraded to "buy" from "neutral" at Goldman Sachs.
Telefonica, a telecommunications company, was downgraded to "equalweight" from "overweight" at Barclays.
#ITALY#
UniCredit, an Italian bank, was downgraded to "neutral" from "overweight" at JPMorgan.
#FINLAND#
Kone, a Finnish engineering and service company, was upgraded to "overweight" from "neutral" at JPMorgan.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.