EU indices slightly up this morning | TA focus on Bayer

,

European stocks report | Maersk | AstraZeneca | Bayer | EMS-Chemie...

Stocks (3)

INDICES
Yesterday, European stocks returned to negative territory. The Stoxx Europe 600 Index fell 1.07%, Germany's DAX 30 dropped 1.14%, France's CAC 40 slid 1.33%, and the U.K.'s FTSE 100 was down 1.61%.

EUROPE ADVANCE/DECLINE
83% of STOXX 600 constituents traded lower or unchanged yesterday.
51% of the shares trade above their 20D MA vs 64% Wednesday (above the 20D moving average).
50% of the shares trade above their 200D MA vs 52% Wednesday (above the 20D moving average).

The Euro Stoxx 50 Volatility index added 2.05pts to 24.04, a new 52w high.

SECTORS vs STOXX 600
3mths relative high: Construction
3mths relative low: none

Europe Best 3 sectors
real estate, health care, media

Europe worst 3 sectors
basic resources, banks, financial services


INTEREST RATE
The 10yr Bund yield fell 1bp to -0.47% (above its 20D MA). The 2yr-10yr yield spread rose 2bps to -18bps (above its 20D MA).


ECONOMIC DATA
UK : UK-EU Brexit Talks
UK 07:00: Jul Retail Sales MoM, exp.: 13.9%
UK 07:00: Jul Retail Sales YoY, exp.: -1.6%
UK 07:00: Jul Retail Sales ex Fuel MoM, exp.: 13.5%
UK 07:00: Jul Retail Sales ex Fuel YoY, exp.: 1.7%
UK 07:00: Jul Public Sector Net Borrowing, exp.: £-34.8B
FR 08:15: Aug Markit Composite PMI Flash, exp.: 57.3
FR 08:15: Aug Markit Services PMI Flash, exp.: 57.3
FR 08:15: Aug Markit Manufacturing PMI Flash, exp.: 52.4
GE 08:30: Aug Markit Composite PMI Flash, exp.: 55.3
GE 08:30: Aug Markit Services PMI Flash, exp.: 55.6
GE 08:30: Aug Markit Manufacturing PMI Flash, exp.: 51
EC 09:00: Aug Markit Composite PMI Flash, exp.: 54.9
EC 09:00: Aug Markit Manufacturing PMI Flash, exp.: 51.8
EC 09:00: Aug Markit Services PMI Flash, exp.: 54.7
UK 09:30: Aug Markit/CIPS Manufacturing PMI Flash, exp.: 53.3
UK 09:30: Aug Markit/CIPS UK Services PMI Flash, exp.: 56.5
UK 09:30: Aug Markit/CIPS Composite PMI Flash, exp.: 57
EC 15:00: Aug Consumer Confidence Flash, exp.: -15


MORNING TRADING
In Asian trading hours, EUR/USD edged up to 1.1877 and GBP/USD rose further to 1.3236. USD/JPY remains subdued at 105.66. AUD/USD advanced to 0.7204. Earlier today, official data showed that Australia's preliminary retail sales grew 3.3% on month in July (+2.7% in June).

Spot gold climbed to $1,950 an ounce.


#UK - IRELAND#
AstraZeneca, a pharmaceutical giant, said its "Imfinzi (durvalumab) has been approved in Japan for the treatment of patients with extensive-stage small cell lung cancer".


#GERMANY#
Bayer, a pharmaceutical group, announced that it has agreed to pay 1.6 billion dollars to resolve 90% of about 39,000 total filed and unfiled U.S. Essure claims involving women who allege device-related injuries.

From a weekly point of view, the share remains within a descending channel since June 2017. Below the channel's upper boundary (set currently around 70E) look for the horizontal support of March 2020 at 44.85E and 32.15E in extension.



Source: GAIN Capital, TradingView


#SWITZERLAND#
EMS-Chemie, a speciality chemicals company, announced that 1H net income declined 27.9% on year to 191 million Swiss franc and EBIT slid 28.2% to 227 million Swiss franc on net sales of 845 million Swiss franc, down 26.8%. Regarding the outlook, the company stated: "Based on the extraordinary market slump, EMS continues to expect net operating income (EBIT) for 2020 to be below previous year."


#SCANDINAVIA - DENMARK#
Maersk, a Danish integrated shipping company, was downgraded to "neutral" from "overweight" at JPMorgan.

Sampo, a Finnish financial company, was upgraded to "overweight" from "equalweight" at Morgan Stanley.

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.