European Stocks Slip as Fitch Lowers France’s Credit Outlook and Oil Prices Retreat: DAX, CAC, FTSE100
Published . Updated .
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European equity markets traded slightly lower on Monday as investors assessed Fitch Ratings’ decision to downgrade France’s sovereign credit outlook, while a decline in crude oil prices provided some relief from energy-related inflation concerns. The pan-European STOXX 600 index
Directly affected
- No company is named in this report.
Indirectly affected
- USO United States Oil Fund-1.1% 30d
United States Oil Fund: its price follows crude oil. Linked by “oil” (oil) in this story.
- XLE Energy Select Sector SPDR+7.4% 30d
Energy Select Sector SPDR: its price follows crude oil. Linked by “oil” (oil) in this story.
- XLF Financial Select Sector SPDR+1.6% 16d
Financial Select Sector SPDR: it holds banks. Linked by “credit” (banks) in this story.
- BWET Breakwave Tanker Shipping ETF-3.3% 17d
Breakwave Tanker Shipping ETF: it tracks tanker freight rates. Linked by “oil” (tanker shipping) in this story.
- EWQ iShares MSCI France ETF-0.5% 6d
iShares MSCI France ETF holds stocks listed in France, which this story is about (“france”).
- EWG iShares MSCI Germany ETF-2.1% 12d
iShares MSCI Germany ETF holds stocks listed in Germany, which this story is about (“dax”).
- BWX SPDR Bloomberg International Treasury Bond ETF
SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in France
- EFA iShares MSCI EAFE ETF-0.7% 6d
iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes France
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| USO | -1.54% | -1.29% | base | -7.16% | -6.32% | -13.84% | -12.25% |
| XLE | -0.51% | -2.20% | base | -3.91% | -4.71% | -9.28% | -11.35% |
| XLF | -0.87% | -0.73% | base | +1.79% | +1.15% | +4.67% | +1.89% |
| BWET | -4.39% | -3.93% | base | -2.78% | -10.37% | -24.41% | -28.03% |
| EWQ | -1.76% | -1.02% | base | +1.09% | +0.67% | +3.81% | +2.69% |
| EWG | -1.59% | -0.24% | base | +0.55% | +0.38% | +3.81% | +2.00% |
| BWX | -0.23% | -0.33% | base | -0.16% | -0.49% | +0.37% | +0.42% |
| EFA | -0.43% | +0.34% | base | +0.33% | -0.25% | +2.29% | -0.65% |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
European Stocks Slip as Fitch Lowers France’s Credit Outlook and Oil Prices Retreat: DAX, CAC, FTSE100 Yahoo Finance UK
Source: Yahoo Finance
Energy
| Company | When | Move | Status |
|---|---|---|---|
| BWET | that day | -2.78% | final price |
| BWET | the next day | -10.37% | final price |
| BWET | two days later | -24.41% | final price |
| BWET | three days later | -28.03% | final price |
| BWET | three days earlier | -3.93% | final price |
| BWET | five days earlier | -4.39% | final price |
| BWX | that day | -0.16% | final price |
| BWX | the next day | -0.49% | final price |
| BWX | two days later | +0.37% | final price |
| BWX | three days later | +0.42% | final price |
| BWX | three days earlier | -0.33% | final price |
| BWX | five days earlier | -0.23% | final price |
| EFA | that day | +0.33% | final price |
| EFA | the next day | -0.25% | final price |
| EFA | two days later | +2.29% | final price |
| EFA | three days later | -0.65% | final price |
| EFA | three days earlier | +0.34% | final price |
| EFA | five days earlier | -0.43% | final price |
| EWG | that day | +0.55% | final price |
| EWG | the next day | +0.38% | final price |
| EWG | two days later | +3.81% | final price |
| EWG | three days later | +2.00% | final price |
| EWG | three days earlier | -0.24% | final price |
| EWG | five days earlier | -1.59% | final price |
| EWQ | that day | +1.09% | final price |
| EWQ | the next day | +0.67% | final price |
| EWQ | two days later | +3.81% | final price |
| EWQ | three days later | +2.69% | final price |
| EWQ | three days earlier | -1.02% | final price |
| EWQ | five days earlier | -1.76% | final price |
| USO | that day | -7.16% | final price |
| USO | the next day | -6.32% | final price |
| USO | two days later | -13.84% | final price |
| USO | three days later | -12.25% | final price |
| USO | three days earlier | -1.29% | final price |
| USO | five days earlier | -1.54% | final price |
| XLE | that day | -3.91% | final price |
| XLE | the next day | -4.71% | final price |
| XLE | two days later | -9.28% | final price |
| XLE | three days later | -11.35% | final price |
| XLE | three days earlier | -2.20% | final price |
| XLE | five days earlier | -0.51% | final price |
| XLF | that day | +1.79% | final price |
| XLF | the next day | +1.15% | final price |
| XLF | two days later | +4.67% | final price |
| XLF | three days later | +1.89% | final price |
| XLF | three days earlier | -0.73% | final price |
| XLF | five days earlier | -0.87% | final price |
Energy
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
How solid the energy case looks
12 out of 100
“European Stocks Slip as Fitch Lowers France’s Credit Outlook and Oil Prices Retreat: DAX, CAC, FTSE100” scores 12 out of 100. The score uses 1 sources.