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[MARKET ANALYSIS] European bourses move lower; Travel & Leisure hit by losses in Ryanair after Q4 profit hit by Italian fine

Newsquawk Staff ·

  • European bourses opened on either side of the unchanged mark, but gradually sauntered lower as the session progressed; this week will see earnings from key companies like LVMH, ASML, SAP and STMicroelectronics.
  • European sectors have opened mixed to slightly negative. Leading sectors are Basic Resources (+1.0%), Banks (+0.8%) and Energy (+0.6%). Basic Resources continues to be underpinned by strength in metal prices as gold and silver continue to gain strength as havens, whilst energy has gained on the back of firmer crude prices. At the bottom of sectors, Travel & Leisure (-1.0%), Food Beverage & Tobacco (-0.9%) and Technology (-0.6%) lag. Despite upping its guidance and revenue exceeding expectation, Ryan Air (-1.6%) shares have seen early pressures, weighing down the Travel sector after quarterly profit was hit by a fine in Italy. Elsewhere, a broker downgrade for Heineken (-0.8%) and losses in Danone (-5.3%) has pinned down optimism for the food beverage and tobacco industry - the latter recalled some baby formula, citing toxin woes.
  • Movers this morning include gains in Aroundtown (+5.1%) after the Co. resolves on share buy-back programme with a volume of up to EUR 250mln, giving the Real Estate (+0.4%) sector some slight momentum. On the downside, Volkswagen (-1.0%) has seen slight pressures in its shares its CEO said it will not proceed with a planned US Audi factory unless automotive tariffs are reduced.
  • US equity futures have come under mild selling pressure in recent trade (ES -0.3%, NQ -0.6%, RTY -0.3%). Nothing driving the downbeat sentiment, but perhaps as traders react to the growing US-China tensions after the US threatened Canada with a 100% tariff if it makes a trade deal with China.
  • Focus for this week include earnings from Meta, Microsoft, Tesla and Apple and the Fed policy announcement. Back to today, the market will keep an eye out for US Durable Goods Orders and US Chicago Fed National Activity Index. Other highlights also include the US Dallas Fed Manufacturing Index and US Atlanta Fed GDP.

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