09.30.2022 11 new Morning Note posts under Morning Note (10) and CAPIS Insights (1)

International Summary

News Trading Desk

International Summary

"CAPIS EU Close – 5/7/2019"

posted by Clayton Duff on 05/07/2019 at 12:54 pm

by Clayton Duff

05/07/2019 at 12:54 pm

After spending much of the day working back to yesterday’s lows, European indices blew through those levels post the US open.  Weakness in the US exacerbated selling with most indices down over a percent.  Unfortunately volume ticked up over 25% on the Stoxx 600 with 453 names down on the day.  On the sector front Utilities managed gains with the balance of sectors lower.  Energy, Banks, and Chemicals fell over 2%.

The FTSE 100 violated both its 400 and 50 day with the DAX also through the 400 day.  While lower the CAC40 ended right at the 50 day with a sizable loss on the Stockholm 30 today as it fell 1.9% and closed at its 50 day as well.

Infineon -3% weighed in the tech space as they see 3Q sales flat.  Their Digital Security unit revenue is seen falling by mid-single digit %’s with Power Mgmt also a bit weaker.

Hitting the chemical space, Solvay slipped 6.7% despite better 1Q earnings. 1Q polymer volumes though were off 10% as semiconductor investment demand fell.

Online furniture seller Westwing Group fell 18% after paring revenue growth forecasts.  EBITDA is seen as being flat which further weighed.

Tonight, China releases trade data with their Trade Surplus expected to bump up to $34B.  Imports are seen as slowing their pullback with Exports expected to slow as well.  Japanese Svc PMI is expected.  Retail sales and home price data is due tonight in the UK.

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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