EU indices up this morning | TA focus on Sanofi
Philippe Delabarre May 25, 2020 8:08 AM
European stocks report | Deutsche Lufthansa | Sanofi | Kuehne + Nagel
Friday, European stocks were mixed, with the Stoxx Europe 600 Index ending flat. Germany's DAX 30 edged up less than 0.1%, the U.K.'s FTSE 100 dropped 0.4%, while France's CAC 40 was little changed.
45% of STOXX 600 constituents traded lower or unchanged Friday.
63% of the shares trade above their 20D MA vs 60% Thursday (below the 20D moving average).
26% of the shares trade above their 200D MA vs 25% Thursday (above the 20D moving average).
The Euro Stoxx 50 Volatility index eased 0.9pt to 31.42, a new 52w high.
SECTORS vs STOXX 600
3mths relative high: none
3mths relative low: none
Europe Best 3 sectors
media, travel & leisure, real estate
Europe worst 3 sectors
banks, energy, food & beverage
ThThe 10yr Bund yield fell 3bps to -0.5% (above its 20D MA). The 2yr-10yr yield spread rose 0bp to -19bps (above its 20D MA).
GE 07:00: Q1 GDP Growth Rate QoQ final, exp.: -0.1%
GE 07:00: Q1 GDP Growth Rate YoY final, exp.: 0.4%
GE 09:00: May Ifo expectations, exp.: 69.4
GE 09:00: May Ifo Current Conditions, exp.: 79.5
GE 09:00: May Ifo Business Climate, exp.: 74.3
FR 14:00: 6-Mth BTF auction
FR 14:00: 12-Mth BTF auction
FR 14:00: 3-Mth BTF auction
In 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 dropped to $1,728 an ounce.
Deutsche Lufthansa's, an airline company: 9 billion euros government bailout plan slowed, amid ongoing discussions to ensure swift European Union approval, reported Bloomberg citing people familiar with the matter.
Sanofi, a pharmaceutical company, and Regeneron Pharmaceuticals announced that their Dupixent (dupilumab) eosinophilic esophagitis phase 3 trial meets both co-primary endpoints. From a chartist point of view, following a sharp pullback, the bullish dynamic, triggered by the consolidation wedge shaped between August 2015 and September 2019 has resumed. Furthermore, an ascending trend line born in 2008 is also in support. Target 100.
Source: GAIN Capital, TradingView
Kuehne + Nagel, a transport and logistics company, will possibly have 20% to 25% less employees after the coronavirus pandemic, according to the company's major shareholder Klaus-Michael Kuehne cited by German newspaper Die Welt.
Crédit Agricole: E0.7
StoneX Financial Ltd (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.