EURO STOXX 50 Down Approximately 1%- Bears Dominating
Jan, 30th 13:38
European markets opened lower on Tuesday, weighed by downbeat sentiment in the U.S. and Asia overnight and as investors remained cautious before a fresh batch of corporate earnings reports.
The EURO STOXX 50 slipped 0.78%, France’s CAC 40 fell 0.53%, while Germany’s DAX 30 eased down 0.62% by 12: 53 pm GMT.
Basic resources stocks led the losses shortly after the opening bell, down more than 1.5 percent amid a potential power crisis in China.
Looking at individual stocks, Loomis slipped to the bottom of the European benchmark on Tuesday, after weaker-than-anticipated earnings. The Swedish cash handler reported organic growth was below expectations in the final three months of 2017. Its shares were more than 8 percent lower.
On the technical charts, EURO STOXX 50 is trading in the negative zone, below the 9 day and the 20 day EMA as well as below the middle band of the Bollinger bands. The MACD is ready to make a negative crossover below the signal line. The RSI is at 51.11.
Trade suggestion :
Buy digital Put options between 3609 and 3595, valid until 23:00 GMT January 30th 2018