EU indices slightly up | TA focus on Saint-Gobain

,

European stocks report | GVC Holdings | Saint-Gobain | Givaudan | Chr Hansen...

Stocks (3)

INDICES
Yesterday, European stocks ended mixed. The Stoxx Europe 600 Index declined 0.12%, France's CAC 40 fell 0.27% and the U.K.'s FTSE 100 edged down 0.06%, while Germany's DAX 30 climbed 0.17%.

EUROPE ADVANCE/DECLINE
54% of STOXX 600 constituents traded lower or unchanged yesterday.
63% of the shares trade above their 20D MA vs 67% Tuesday (above the 20D moving average).
58% of the shares trade above their 200D MA vs 60% Tuesday (above the 20D moving average).

The Euro Stoxx 50 Volatility index eased 0.24pt to 24.97, a new 52w high.

SECTORS vs STOXX 600
3mths relative high: Media
3mths relative low: Energy

Europe Best 3 sectors
basic resources, automobiles & parts, chemicals

Europe worst 3 sectors
telecommunications, insurance, media


INTEREST RATE
The 10yr Bund yield was unchanged to -0.51% (below its 20D MA). The 2yr-10yr yield spread fell 1bp to -20bps (below its 20D MA).


ECONOMIC DATA
GE 07:00: Aug Current Account, exp.: E20.0B
GE 07:00: Aug Balance of Trade s.a, exp.: E18B
GE 07:00: Aug Exports MoM s.a, exp.: 4.7%
GE 07:00: Aug Imports MoM s.a, exp.: 1.1%
GE 07:00: Aug Balance of Trade, exp.: E19.2B
EC 08:25: ECB Schnabel speech
EC 09:00: ECB Guindos speech
UK 09:30: BoE FPC Statement
EC 11:15: ECB Mersch speech
EC 12:30: ECB Monetary Policy Meeting Accounts


MORNING TRADING
In Asian trading hours, EUR/USD held gains at 1.1766 and GBP/USD edged up to 1.2925. USD/JPY was hovering around the 106.00 level.

Spot gold was broadly flat at $1,887 an ounce.


#UK - IRELAND#
GVC Holdings, sports betting company, reported that 3Q group net gaming revenue (NGR) rose 12% on year (+14% at constant currency), with online NGR growing 26% (+28% at constant currency). The company said it now expects full-year adjusted EBITDA to be in the range of 770 million to 790 million pounds, "approximately 50 million pounds ahead of previous expectations".

Hargreaves Lansdown, a financial service group, issued a trading update for the three month period to September 30: "Net new business was £0.8 billion during the period (2019: £1.7bn, £0.8bn excluding back book transfers). (...) A positive market movement of £2.1 billion, combined with net new business has driven AUA to £106.9 billion as at 30 September 2020. (...) Revenue for the period was £143.7 million, up 12% on last year despite, on average, the FTSE All Share being down versus the comparative period by 18%."


#FRANCE#
Saint-Gobain, a building materials company, was downgraded to "neutral" from "buy" at Citigroup.
From a daily point of view, the stock is supported by a rising internal trend line drawn since April. In addition, the three-month exponential moving average plays a support role, while the Relative Strenght Index is bouncing back above the key support at 49%. Above 34.1E, look for the previous top of December 2019 at 39.6E.


Source: TradingView, GAIN Capital

#SPAIN#
ACS, a civil and engineering construction company, was upgraded to "equalweight" from "underweight" at Morgan Stanley.


#SWITZERLAND#
Givaudan, a manufacturer of flavours and fragrances, reported that 3Q revenue was flat on year (+3.1% like-for-like) at 1.57 billion Swiss franc, and 9-month revenue was up 2.7% (+3.7% like-for-like) to 4.79 billion Swiss franc.


#DENMARK#
Chr Hansen, a bioscience company, announced that 4Q profit from continuing operations fell 1.7% on year to 68 million euros while adjusted EBIT grew 3.6% to 98 million euros on revenue of 254 million euros, up 2.1%.


EX-DIVIDEND
Glencore (GLEN): $0.1, Telenor: NOK4.3, WPP Group:10p

More from Equities

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.