EU indices positive this morning | TA focus on Lonza Group

European stocks report | Deutsche Lufthansa | Deutsche Wohnen | Lonza Group...

Uptrend 2

Yesterday, European stocks were lower, with the Stoxx Europe 600 Index slipping 0.7%. Germany's DAX 30 lost 0.5%, the U.K.'s FTSE 100 fell 0.6% and France's CAC 40 was down 0.2%.

58% of STOXX 600 constituents traded lower or unchanged yesterday.
93% of the shares trade above their 20D MA vs 93% Wednesday (above the 20D moving average).
45% of the shares trade above their 200D MA vs 46% Wednesday (above the 20D moving average).

The Euro Stoxx 50 Volatility index eased 1.95pt to 27.66, a new 52w high.

3mths relative high: Chemicals, Industrial
3mths relative low: none

Europe Best 3 sectors
real estate, telecommunications, banks

Europe worst 3 sectors
automobiles & parts, utilities, health care

The 10yr Bund yield rose 6bps to -0.35% (above its 20D MA). The 2yr-10yr yield spread fell 1bp to -29bps (below its 20D MA).

GE 07:00: Apr Factory Orders MoM, exp.: -15.6%
UK 08:30: May Halifax House Price Idx MoM, exp.: -0.6%
UK 08:30: May Halifax House Price Idx YoY, exp.: 2.7%
UK 09:00: UK-EU Brexit Talks

In Asian trading hours, EUR/USD held gains at 1.1335 while GBP/USD eased to 1.2593. USD/JPY stayed above the 109.00 level. This morning, official data showed that Japan's household spending slid 11.1% on year in April (-12.8% expected).

Spot gold retreated to $1,710 an ounce.

TUI, a travel and tourism company, is considering to reduce its German airline capacity by half amid cost-cutting, reported Bloomberg citing people familiar with the matter.

Deutsche Lufthansa, an airline company, will be replaced by Deutsche Wohnen, a property group, in the German Dax Index effective June 22, according to Deutsche Boerse.

Telefonica Deutschland, a telecommunications group, is nearing a deal to sell a portfolio of wireless towers to investment firm KKR & Co for 1.5 billion euros, reported Bloomberg citing people familiar with the matter.

Kion, a manufacturer of materials handling equipment, was downgraded to "hold" from "buy" at HSBC.

Legrand, an industrial group, was upgraded to "buy" from "neutral" at Goldman Sachs.

Endesa, a Spanish electric utility company, was upgraded to "equalweight" from "underweight" at Barclays.

Acciona, an infrastructure and renewable energy company, was upgraded to "neutral" from "sell" at Citigroup.

Enel, an energy company, was upgraded to "overweight" from "equalweight" at Barclays.

Lonza Group, a biotechnology company, announced the appointment of Pierre-Alain Ruffieux, currently Head of Global Pharma Technical Operations at Roche, as new CEO effective November 1. From a chartist point of view, the share has pushed above the upper end of an ascending broadening formation. Look for 560 & 600.

Source: GAIN Capital, TradingView

Novartis, a pharmaceutical group, said a phase 3b study of its Enerzair Breezhaler, for the treatments in uncontrolled asthma, met primary endpoint.

HeidelbergCement: E0.6

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