stock price indexes: msci europe sectors & industries · switzerland (18.6) united kingdom...
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Stock Price Indexes:MSCI Europe
Sectors & IndustriesYardeni Research, Inc.
July 22, 2020
Dr. Edward Yardeni516-972-7683
Mali Quintana480-664-1333
Please visit our sites atwww.yardeni.comblog.yardeni.com
thinking outside the box
Table Of Contents Table Of ContentsTable Of Contents
July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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European Stock Markets 1-2European Sectors 3European Consumer Discretionary 4European Consumer Staples 5European Finance 6European Health Care 7European Industrials 8European Industrials (cont) 9European Information Technology 10European Materials 11European Telecom 12European Energy 13European Utilities 14
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022600
800
1000
1200
1400
1600
1800
600
800
1000
1200
1400
1600
1800
7/22
EUROPE SHARE PRICE INDEX(12/31/69=100)
Source Morgan Stanley Capital International.200-day moving average
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Figure 1.
I II III IV I II III IV2019 2020
-40
-20
0
20
40
-40
-20
0
20
40SHARE PRICE INDEXES(percent change ytd, local currencies)
France (6.5)Germany (23.9)Sweden (32.8)Switzerland (23.3)United Kingdom (-7.7)
Latest data thru: 07/22/20
Source: Haver Analytics.
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Figure 2.
European Stock Markets
Page 1 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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I II III IV I II III IV2019 2020
-40
-20
0
20
40
60
-40
-20
0
20
40
60Latest data thru: 07/22/20
Source: Haver Analytics.
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SHARE PRICE INDEXES(percent change ytd)
Greece (5.6)Ireland (14.3)Spain (-15.2)Italy (12.4)
Figure 3.
I II III IV I II III IV2019 2020
-30
-20
-10
0
10
20
30
-30
-20
-10
0
10
20
30SHARE PRICE INDEXES(percent change ytd)
Netherlands (17.4)Belgium (8.0)Norway (1.3)
Latest data thru: 07/22/20
Source: Haver Analytics.
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Figure 4.
European Stock Markets
Page 2 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 5.
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 2240
60
80
100
120
140
160
180
200
7/22
CONSUMER DISCRETIONARY
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22304050607080901001101201301407/22INFORMATION TECHNOLOGY
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 2280
100120140160180200220240260280300
7/22CONSUMER STAPLES
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 220
100
200
300
400
7/22
MATERIALS
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 2220
40
60
80
100
120
140
160
7/22
FINANCIALS
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 2280
100
120
140
160
180
200
220
7/22
ENERGY
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 2270
90
110
130
150
170
190
210
230
7/22HEALTH CARE
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 2250
90
130
170
210
7/22
UTILITIES
06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 2240
80
120
160
200
240
280
7/22INDUSTRIALS
200-day moving averageSource: Morgan Stanley Capital International.
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European Sectors
Page 3 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 6.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2140
60
80
100
120
140
160
180
200
7/22
CONSUMER DISCRETIONARY
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2140
60
80
100
120
140
7/22
MEDIA
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2130
50
70
90
110
130
150
170
190
210
230
250
7/22
AUTOMOBILES & COMPONENTS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150
70
90
110
130
150
170
190
210
7/22
HOTELS, RESTAURANTS & LEISURE
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150
70
90
110
130
150
170
190
210
230
7/22
RETAILING
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2110
30
50
70
90
110
7/22
HOUSEHOLD DURABLES
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150
150
250
350
450
550
650
750
850
950
7/22
TEXTILES & APPAREL
200-day moving averageSource: Morgan Stanley Capital International.
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European Consumer Discretionary
Page 4 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 7.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2180
100
120
140
160
180
200
220
240
260
280
300
7/22
CONSUMER STAPLES
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2180
120
160
200
240
280
320
360
400
440
480
7/22
PERSONAL PRODUCTS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2170
90
110
130
150
170
190
210
230
250
270
290
310
7/22
FOOD PRODUCTS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150
150
250
350
450
550
7/22
BEVERAGES
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150
60
70
80
90
100
110
120
7/22
FOOD & DRUG RETAILING
200-day moving averageSource: Morgan Stanley Capital International.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21100
250
400
550
700
850
1000
7/22
TOBACCO
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European Consumer Staples
Page 5 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 8.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2120
40
60
80
100
120
140
160
20
40
60
80
100
120
140
160
7/22
FINANCIALS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2120
40
60
80
100
120
140
160
180
20
40
60
80
100
120
140
160
180
7/22
BANKS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 210
25
50
75
100
125
150
0
25
50
75
100
125
150
7/22
DIVERSIFIED FINANCIALS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2110
30
50
70
90
10
30
50
70
90
7/22
INSURANCE
200-day moving averageSource: Morgan Stanley Capital International.
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European Finance
Page 6 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 9.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2170
90
110
130
150
170
190
210
230
7/22
MSCI EUROPEAN HEALTH CARE
Sector
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 216080100120140160180200220240260280300320340360380400420
7/22
Health CareProviders & Services
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2160
70
80
90
100
110
120
130
140
150
160
170
180
190
200
7/22
Pharmaceuticals
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150
100
150
200
250
300
350
400
450
500
550
600
650
7007/22
Biotechnolgy
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21110
150
190
230
270
310
350
390
430
470
510
550
590
7/22
Health CareEquipment & Supplies
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200-day moving averageSource: Morgan Stanley Capital International.
European Health Care
Page 7 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 10.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21406080
100120140160180200220240260280
7/22
INDUSTRIALS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150
90
130
170
210
250
290
330
370
410
450
7/22MACHINERY
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2190
120
150
180
210
240
270
300
330
360
390
7/22
CAPITAL GOODS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21406080100120140160180200220240260280300320
7/22
AEROSPACE & DEFENSE
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2120
40
60
80
100
120
140
160
180
200
220
7/22
ELECTRICAL EQUIPMENT
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2160
100
140
180
220
260
300
340
7/22BUILDING PRODUCTS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150
75
100
125
150
175
200
225
250
275
300
7/22INDUSTRIAL CONGLOMERATES
200-day moving averageSource: Morgan Stanley Capital International.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2175
125
175
225
275
325
375
425
475
525
575
625
7/22
CONSTRUCTION & ENGINEERING
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European Industrials
Page 8 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 11.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2135
45
55
65
75
85
95
105
115
7/22
COMMERCIAL SERVICES & SUPPLIES
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2140
50
60
70
80
90
100
110
120
130
140
150
160
170
180
190
200
7/22
TRANSPORTATION
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2120
60
100
140
180
220
260
7/22
TRADING COMPANIES & DISTRIBUTORS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2125
35
45
55
65
75
85
95
105
115
125
135
145
155
7/22
AIRLINES
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2125
35
45
55
65
75
85
95
105
115
125
135
145
155
7/22
AIR FREIGHT & COURIERS
200-day moving averageSource: Morgan Stanley Capital International.
European Industrials (cont)
Page 9 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 12.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2130
50
70
90
110
130
150
7/22INFORMATION TECHNOLOGY
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 215070901101301501701902102302502702903107/22
SOFTWARE
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 210
50
100
150
7/22
COMMUNICATIONS EQUIPMENT
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2120
40
60
80
100
120
140
160
180
200
7/22
INTERNET SOFTWARE & SERVICES INDEX
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 215
15
25
35
45
55
65
7/22
IT CONSULTING & SERVICES
200-day moving averageSource: Morgan Stanley Capital International.
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European Information Technology
Page 10 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 13.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2170
90
110
130
150
170
190
210
230
250
270
290
310
330
7/22
MATERIALS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2160
80
100
120
140
160
180
200
220
240
7/22
CONSTRUCTION MATERIALS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2140
90
140
190
240
290
340
390
440
7/22
PAPER & FOREST PRODUCTS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21100
150
200
250
300
350
400
450
500
550
600
650
700
750
800
7/22
METALS & MINING
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2170
110
150
190
230
270
310
350
390
430
7/22CHEMICALS
200-day moving averageSource: Morgan Stanley Capital International.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150
100
150
200
250
300
350
400
7/22
CONTAINERS & PACKAGING
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European Materials
Page 11 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 14.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 210
10
20
30
40
50
60
70
80
90
100
110
0
10
20
30
40
50
60
70
80
90
100
110
7/22
TELECOMMUNICATION SERVICES
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2130
40
50
60
70
80
90
30
40
50
60
70
80
90
7/22
DIVERSIFIED TELECOMMUNICATIONSERVICES
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2140
80
120
160
40
80
120
160
7/22
WIRELESS TELECOMMUNICATION SERVICES
200-day moving averageSource: Morgan Stanley Capital International.
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European Telecom
Page 12 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 15.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2180
100
120
140
160
180
200
220
80
100
120
140
160
180
200
220
7/22
ENERGY
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21100
120
140
160
180
200
220
100
120
140
160
180
200
220
7/22
OIL & GAS
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 210
50
100
150
200
250
300
350
0
50
100
150
200
250
300
350
7/22
ENERGY EQUIPMENT & SERVICES
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2130
50
70
90
110
130
150
170
30
50
70
90
110
130
150
170
7/22
MULTI-UTILITIES
200-day moving averageSource: Morgan Stanley Capital International.
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European Energy
Page 13 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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Figure 16.
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150
70
90
110
130
150
170
190
210
50
70
90
110
130
150
170
190
210
7/22
UTILITIES
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150
70
90
110
130
150
170
190
210
230
50
70
90
110
130
150
170
190
210
230
7/22ELECTRIC UTILITIES
04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2180100120140160180200220240260280300320
80100120140160180200220240260280300320
7/22
GAS UTILITIES
200-day moving averageSource: Morgan Stanley Capital International.
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European Utilities
Page 14 / July 22, 2020 / Stock Price Indexes: MSCI Europe Sectors & Industries www.yardeni.com
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