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"CAPIS EU Close Recap – March 4th, 2019"

posted by Clayton Duff on 03/04/2019 at 1:00 pm

by Clayton Duff

03/04/2019 at 1:00 pm

European indices held in well in the face of US indices shaking off early moves and working lower.  Across Europe moves were subdued with a bias toward small gains on the day. Roughly 2/3 of the Stoxx 600 sectors closed better with Media and Construction up while Travel names lagged.  Volume in the Stoxx 600 was off 15%.

UK construction names moved up despite UK Markit Construction PMI falling to under the expansion/contraction level. Ferguson +.6%, Bovis Home +1.4%, Persimmon +1.1%.

Industrial firm Rotork closed down 3.5% after they announced slower growth is expected for this year.  Sales growth is seen as modest as the 1H missed YoY.  The firm is doing a system assessment to increase performance.

Travel names lagged with IAG off 4.8% as they see free cash flow for 2019 under 2018 levels.

From earlier: Nordea -3.5%, Ahold Delhaize -2.4%, Novo Nordisk -.3%, Fresenius Medical -2.2%, CNH +.5%, Daily Mail +4.5%.

Tonight, Caixin PMI Services/Composite levels will be released in China and in Japan.  HK PMI is also out with the country hoping to move out contraction.  SK is out with GDP figures with the RBA to announce rates Down Under.  PMI readings are due as well there along with Net exports of GDP.  Service/ Composite PMI readings are due as well in Europe with Retail sales for the region expected.

About the Author

Clayton Duff headshot
ClaytonDuffFVP,Senior International Trader

Clayton Duff joined the firm in 2008. He has worked in the industry since 1994 and held various trading and sales positions before CAPIS, including four years as a trader for First Southwest. He earned his bachelor’s degree from the University of Texas Arlington. Clayton maintains Series 3,...

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