09.23.2022 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

International Summary

News Trading Desk

International Summary

"CAPIS EU Close – 3/26/2019"

posted by Clayton Duff on 03/26/2019 at 12:58 pm

by Clayton Duff

03/26/2019 at 12:58 pm

European indices ended with a positive bias, holding steady over the afternoon.  Autos and Banks ended down small with 1+% gains in Healthcare, Foods, Tech, Financials, Personal Goods, and Media names.  Stoxx 600 members were to the upside at a rate of two to one with volume off 17%.  Moves in bonds were scant in the afternoon with the UK Gilt seeing some selling, yielding at 1%.   Ahead of tomorrow’s Brexit-alternative vote in Parliament the Pound today held in, continuing to trade just under the 400 day.

Bang & Olufsen ended down over 26% after they sharply cut their FY outlook and put a stop to their buyback program. Revenues are seen off 10% YoY with consumer’s move to personal devices weighing.   Sales of their $15k TV’s are weak with traditional stereo-type systems not as much in demand.

Debenhams rallied 42% with Sports Direct said to be interested.  SD’s CEO Mike Ashley is a large holder already in Debenhams and is hoping that creditors do not end up with the firm.

Several UK builders gained today, led by Crest Nicholson +5%, with the firm noting trading has been resilient.  Markets are encouraged by the new CEO as well.  Bovis Homes +1.7%.

From earlier: Airbus +2%, Ferguson -7.2%, Ocado +4%, IAG -2.2%.

Tonight, China will release Industrial Profits while Korean Consumer Confidence  is expected.

About the Author

Clayton Duff headshot
ClaytonDuffDir,Director of International Trading

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. Clayton was promoted to manager of international trading in 2019. He earned his bachelor’s degree f...

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