European indices closed mixed with the UK’s FTSE100 the clear winner as the Pound fell today. There, health care and consumer staples led while Chemicals ultimately led in the region. Roughly 2/3rds of the sectors finished lower with Banks and Telcos down over a percent. Concerning the Stoxx600 members up vs down was evenly split while volume was down by 20% today.
While most names finished nicely higher Infineon continued to fall, down another 2%, after paring their FY19 outlook yesterday. Morgan Stanley called the move “an important reality check” for the semi space.
As noted in our morning blurb Swedbank -7.8% continues lower with their CEO ousted amid their continuing AML woes. SEB -7%, Nordea Bank -2.6%.
SMA Solar fell 17% despite confirming their FY2019 sales and earnings. The firm sees a 1Q loss of between €5M to flat. The firm lost money last year.
China’s BoP current account is due overnight along with a slew of Japanese data. Jobs data, Tokyo inflation, Industrial Production, Retail Sales, and Vehicle Production is due, mostly just before the open. Industrial Production is due in Korea. Home prices and mortgage approvals are out in the UK along with GDP for the 4Q. Import prices and retail sales join employment data in Germany. French Consumer inflation and Spanish GDP are also out.