Mon, Jun. 20, 7:21 AM
- A weekend poll showed support for the "leave" option has fallen to 42%, and "remain" has risen to 45%. IG's Chris Weston puts the odds of a Brexit as having dropped to just 30%.
- Europe's Stoxx 50 (NYSEARCA:FEZ) is up 3.6%, with all of the major markets there higher by 3%. The British pound (NYSEARCA:FXB) is ahead a full 2% vs. the dollar and 1.5% vs. the euro (NYSEARCA:FXE).
- ETFs: VGK, EWG, HEDJ, FEZ, EWP, EWI, FXB, IEV, EWU, DAX, EPV, EZU, GF, EWQ, GBB, DXGE, DBGR, FEU, HEWG, EURL, DBEU, EEA, FEP, HEZU, UPV, IEUR, FEEU, ADRU, FGM, EWUS, FKU, DXPS, FIEU, QDEU, QESP, DBEZ, DBUK, FEUZ, QGBR, SBEU, HFEZ, HEWI, HEWP, HFXE, DBSP, PTEU, DBIT, HGEU, FIEE, RFEU, HEWU, DEZU, GSEU
Fri, Jan. 8, 12:01 PM
- European stocks can't hold early gains and close the week with a thud, the Stoxx 50 (NYSEARCA:FEZ) shedding 1.7% today and about 8% for the year's first week. Germany (NYSEARCA:EWG) was hit hardest, falling 1.4% today and nearly 12% for the week. The U.K. (NYSEARCA:EWU) fell just 0.7% today, but 5.3% for the week.
- For perspective, the S&P 500 is flat on the session and down 4.8% for the week.
- ETFs: VGK, EWG, FEZ, HEDJ, EWP, EWI, IEV, EWU, EPV, EZU, GF, EWQ, EIRL, DAX, IRL, FEU, DXGE, HEWG, DBGR, EEA, EURL, EWGS, FEP, UPV, DBEU, ADRU, HEZU, FEEU, EWUS, IEUR, FGM, DXPS, FKU, QDEU, FIEU, QESP, DBEZ, QGBR, DBUK, FEUZ, SBEU, HEWI, DBIT, HEWU, HEWP, DBSP, HGEU, UK, HEGE, HFEZ
Oct. 1, 2015, 4:06 AM
- German manufacturing PMI slipped to 52.3 in September from 53.3 in August, although the sector still enjoyed its best quarter for over a year.
- Businesses maintained solid output and new-order growth, Markit says, while they also lowered prices as input costs fell further, although employment rose at weaker rate.
- "The combination of rising backlogs and increased new orders suggests that companies will continue to scale up production levels, at least in the short term," Markit says.
- The DAX is +1.1%. (PR)
- ETFs: EWG, GF, DAX, DXGE, HEWG, DBGR, EWGS, BUNL, BUNT, GGOV, FGM, QDEU
Sep. 30, 2015, 3:12 AM
- German retail sales slumped 0.4% on month in August after growing 1.6% in July and came in well below consensus of growth of 0.2%.
- On year, sales growth slowed to 2.5% from 3.8% and undershot expectations of +3.1%. (PR)
- The euro is -0.3% at $1.1214, although the DAX seems to be ignoring the poor figures and is +2.2%.
- ETFs: EWG, GF, DAX, DXGE, HEWG, DBGR, EWGS, BUNL, BUNT, GGOV, FGM, QDEU
Aug. 24, 2015, 9:58 AM
- Germany, for one, is expecting its damage from China's slowdown to be containable, even as the Dax heads for bear market territory amid some panic selling today.
- "We are following developments in China very closely," says a spokeswoman for the country's Economy Ministry. "The immediate consequences for the German economy should, however, be limited ... Exports to China are important for Germany but only account for 6.6%. The export dynamic is currently coming from the EU, from the EU-28 countries."
- The Dax index does have exposure to China and would be the first of Western Europe's markets to hit bear-market territory if it closes where it's at now: currently -6.6%, down 672 points to 9,453. It's off 24% from its peak.
- ETFs: EWG -2.5%, GF -8.2%, DAX -6.8%, DXGE -6%, HEWG -15.7%, DBGR -5.3%, EWGS -2.5%, BUNT -2.6%, GGOV -1.3%, FGM -3.8%, QDEU -3.7%.
Oct. 14, 2014, 5:21 AM
- The German ZEW survey of investor confidence has unexpectedly dropped into negative territory for the first time in almost two years, tumbling to -3.6 in October from 6.9 in September and missing expectations of 1.
- The current situation print has slumped to 3.2 from 25.4, falling short of consensus of 18.
- Sentiment for the eurozone plunged to 4.1 from 14.2 and missed forecasts of 7.1.
- "Geopolitical tensions and the weak economic development in some parts of the Eurozone, which is falling short of previous expectations, are a source of persistent uncertainty," says ZEW President Professor Clemens Fuest. "These factors are tarnishing growth expectations in Germany. Disappointing figures concerning incoming orders, industrial production, and foreign trade have likely contributed to the growing pessimism among financial market experts." (PR)
- The DAX is -0.5% and the euro is -0.8% at $1.2653.
- European ETFs: FXE, VGK, EUO, FEZ, ERO, IEV, HEDJ, EU, EPV, EZU, DRR, FEU, FEP, EUFX, UPV, ULE, ADRU, URR, FEEU, EURL, EURZ, DBEU, IEUR, FIEU, ESTX, HEZU
- German ETFs: EWG, EWGS, DBGR, BUNL, DXGE, GERJ, FGM, GGOV, BUNT, QDEU, HEWG
Sep. 4, 2014, 8:46 AM
- The ECB cut its growth forecast for the EU for 2014 and 2015, says Mario Draghi at his post-meeting press conference, but raised its outlook for 2016. Inflation is seen at lower-than-expected levels in the coming months before increasing gradually in 2016.
- The central bank, says Draghi, will start to purchase a broad portfolio of euro-denominated covered bonds and also begin to buy ABS, with further details coming in October. It sounds like the Germans are on board: "Should it become necessary, the Governing Council is unanimous in using additional measures."
- The Stoxx 50 is now higher by 1.5% and the euro lower by 1% to $1.3015.
- ETFs: FXE, VGK, EUO, EWG, FEZ, EWP, ERO, IEV, HEDJ, EPV, EZU, EWQ, DRR, FEU, FEP, UPV, EUFX, ULE, DBGR, ADRU, DXGE, FEEU, URR, EURL, FGM, EURZ, DBEU, QDEU, IEUR, FIEU, HEWG, QESP
- Previously: Euro tumbles, stocks gain as ECB cuts rates
Jun. 5, 2014, 7:55 AM
- The Stoxx 50 (FEZ) is up 0.8% after being about flat ahead of the ECB rate decision, at which the central bank cut all three of its benchmark rates, including taking the deposit facility rate into negative territory.
- Italy (EWI) with a 1.3% gain and France (EWQ) ahead 1% lead the way.
- The euro (FXE) tumbles about 40 pips, now off 0.3% on the session and buying $1.3563.
- Europe equity ETFs: RSX, VGK, EWG, FEZ, GREK, EWP, EWI, DFE, RUSL, IEV, RSXJ, EWL, ERUS, EWU, RUSS, EPV, EZU, EWD, HEDJ, NORW, EWQ, EPOL, EIRL, PLND, EWO, RBL, GXF, EWN, FEU, EWK, FDD, EWGS, FEP, EDEN, UPV, EWUS, DBGR, PGAL, ADRU, ENOR, GERJ, DXGE, FEEU, FGM, EURL, FKU, EFNL, EUDG, DXPS, FSZ, EURZ, FIEU, RUDR, DBEU, HEWG, DBUK
- Euro ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR
- ECB chief Mario Draghi's press conference begins at 8:30 ET.
Mar. 24, 2014, 4:42 AM
- German flash manufacturing PMI has dropped to 53.8 in March from 54.8 in February and missed consensus of 54.7.
- Services fell to 54 from 55.9 and vs 55.8.
- Manufacturing output declined to 57 from 57.4.
- Composite output dropped to 55 from 56.4.
- Staffing rose for a fifth straight month, although "the increase was largely driven by hiring efforts at service providers," says Markit, "while manufacturing firms only reported a fractional rise in workforce numbers."
- Still, the data points to GDP growth of up to 0.7% in Q1, Markit says.
- The euro comes back down after jumping a bit following the French PMI and is flat at $1.3795. The DAX is -0.45%. (PR)
- ETFs: FXE, VGK, EUO, EWG, FEZ, ERO, EU, IEV, EPV, EZU, HEDJ, DRR, FEU, BUND, FEP, EUFX, UPV, ULE, DBGR, DXGE, BUNL, ADRU, URR, FEEU, FGM, GGOV, EURL, BUNT, EURZ, DBEU, FIEU, HEWG
Mar. 3, 2014, 4:00 AM
- German manufacturing PMI dropped to 54.8 (flash 54.7) in February from 56.5 in January.
- "With companies reporting strong expansions in new orders and export sales, the (manufacturing) sector looks set for further growth in the near future," says Markit. "Encouragingly, companies continued to take on additional staff, which signals confidence about future workloads."
- The euro is -0.2% vs the dollar, while the DAX is -1.9%, hurt by the developments between Ukraine and Russia. (PR)
- ETFs: EWG, BUND, EWGS, DBGR, GERJ, BUNL, DXGE, FGM, GGOV, BUNT, HEWG
Nov. 21, 2013, 3:42 AM
- German flash manufacturing PMI has climbed to a 29-month high of 52.5 in November from 41.7 in October and topped consensus of 52.
- Services jumped to 54.5 from 52.9 and vs 53.
- Manufacturing output rose to 54 from 53.6.
- Composite output increased to 54.3 from 53.2.
- The data suggests that the German economy "is well on track to achieve growth of close to 0.5%" in 2013, says Markit.
- Strong new business and backlogs indicate that the solid growth momentum will be sustained, with improvements in investment spending and job creation set to follow the upturn in business conditions.
- The DAX is -0.8%, while the euro recovers its post French PMI losses and is -0.1%. (PR)
- ETFs: FXE, VGK, EUO, EWG, FEZ, ERO, EU, EPV, IEV, EZU, DFE, DRR, HEDJ, GXF, GUR, BUND, FEU, EUFX, FDD, ESR, UPV, ULE, FEP, BUNL, URR, GERJ, ADRU, FEEU, DBGR, BUNT, FGM, GGOV, DXGE, DBEU, FIEU
Nov. 6, 2013, 7:00 AM
- German factory orders surged 3.3% on month in September, rebounding from a fall of 0.3% in August and slaying expectations for growth of 0.5%.
- On year, orders jumped 7.9% after climbing 3.1% a month earlier.
- Foreign bookings rose 6.8% in September, with eurozone demand climbing 9.7%, although domestic orders fell 1%. Still, foreign demand remains rather weak, Germany's Economy Ministry says. "The data confirm the picture of an increasingly domestically driven economic recovery."
- The data adds to PMI readings that show continued growth in overall German business activity.
- The euro spikes and is +0.2% vs the dollar, while the Dax is +0.4%.
- ETFs - Stocks: FGM, EWG, GERJ, EWGS, DBGR. Bonds: BUNL, BUNT, BUND, GGOV. Euro: FXE, ERO, ULE, URR, EUO, DRR, EUFX
Sep. 2, 2013, 4:26 AM
- German flash manufacturing PMI rises to 51.8 in August (flash 52) from 50.7 in July.
- "Improvements in domestic sales and a rebound in export demand...(combined) to generate the fastest expansion of output volumes since the middle of 2011," says Markit. "The "accumulation of unfinished work for the first time in five months...should stimulate job creation and investment spending."
- Expects manufacturing output to make a "positive contribution to German GDP" in Q3.
- DAX +1.5%, euro flat. (PR)
- ETFs - Stocks: FGM, EWG, GERJ, EWGS, DBGR. Bonds: BUNL, BUNT, BUND, GGOV
Aug. 14, 2013, 2:09 AM
- German Q2 GDP +0.7% on quarter vs flat in Q1 and consensus of +0.6%.
- On year, NSA GDP +0.9% vs -1.6% and +0.3%; WDA GDP +0.5% on year vs -0.3% in Q1.
- Having spiked following French GDP, the euro receives another boost and is now +0.1%.
- German ETFs - Stocks: FGM, EWG, GERJ, EWGS, DBGR; Bonds - BUNL, BUNT, BUND, GGOV.
- Eurozone ETFs - Euro: FXE, ERO, ULE, URR, EUO, DRR, EUFX. Equities: EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, EPV, DFE, FEU, FEEU. Bonds: EU
Apr. 23, 2013, 5:35 AMEuropean equities climb following mixed eurozone PMI data, with German shares just about brushing off poor PMI readings for the country, although the euro falls vs the dollar. EU Stoxx 50 +0.8%, London +0.5%, Paris +1.2%, Frankfurt +0.1%, Milan +0.7%, Madrid +1%. Euro -0.7% at $1.2979. | Apr. 23, 2013, 5:35 AM | 1 Comment
Mar. 21, 2013, 4:41 AM
Flash German manufacturing PMI unexpectedly drops to 48.9 from 50.3 in February; manufacturing output 49.8 vs 50.7; services 51.6 vs 54.7, composite output 51 vs 53.3. The loss of output growth momentum was the greatest since the middle of 2011, says Market, while the survey doesn't take into account the impact of the Cyprus flair-up. The Dax and euro dive, and are -0.7% and -0.3% (vs the dollar) respectively. (PR)| Mar. 21, 2013, 4:41 AM
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