POINT MARKETS-The stock market in the red with techs and banks

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        * Nasdaq fell more than 3% Monday with FANG
    * The decline has spread in Asia and then in Europe
    * The situation around Italy and Brexit still worries
    * Return to safe haven assets such as bonds and the dollar
    by Blandine Henault
    PARIS, November 20 (Reuters) - Major European stock markets are changing
down sharply Tuesday, sealed by the technological compartment that suffers
in the wake of the fall of the segment the day before on Wall Street, while the
banking stocks suffer from disappointing results and tensions around
Italy.
    In Paris, the CAC 40 .FCHI index fell 0.87% to 4.942.35 points in the
morning. In Frankfurt, the Dax .GDAXI yields 1.04% and in London, the FTSE .FTSE
loses 0.57%.
    The EuroStoxx 50 index of the euro zone .STOXX50E drops 0.87%, the
FTSEurofirst 300 .FTEU3 fell by 0.74% and the Stoxx 600 .STOXX folded by
0.64%.
    When political risks do not predominate, equity markets are
often caught up in recent weeks by the nervousness surrounding the large
US technology stocks, with extremely tight valuations
make them vulnerable to any anxiety about the growth prospects of
their results.
    Apple AAPL.O, the world's first capitalization, has thus lost more than
20% since its peak reached in early October.
    "The FANG are indeed in bear market territory"
is not good looking, "says Neil Wilson at Markets.com.
technological actions are going through a reassessment phase but it seems
that they be sold as a single entity. A bit like the markets
FANG are very different from each other and should be
evaluated individually, "he continues.
    "In the early days of Christmas, Apple and Amazon could well
particularly surprise positively ".
    For the time being, US index futures are signaling a
further decline at the opening of Wall Street, with a decline of around 1%
for the Nasdaq.
    
    VALUES
    In Europe, the .SX8P technology sector fell by 1.71%, with
decreases between 3.5% and 4% for AMS AMS.S, Infineon IFXGn.DE or
further STMicrolectrics STM.PA.
    The strongest sectoral decline in Europe nevertheless comes down to .SX7P banks
(-1.8%), burdened by the plunge of the British CBYG CYBGC.L (-8.69%) which has
announced the establishment of an emergency plan to deal with uncertainties
related to Brexit.
    Swiss asset manager Julius Baer BAER.S drops 6.29% after having
warned he might not achieve his goal ratio
costs / revenues this year.
    Italian banks are also under pressure, like Banco BPM
 BAMI.MI, Ubibanca UBI.MI and Unicredit IDRC.MI losing between 3.5%
and 6% against the background of persistent tensions between Brussels and Rome on the budget
2019.
    In Paris, Renault RENA.PA fell again by 3.48%, after losing more than
8% the day before, as a result of charges of financial fraud
CEO Carlos Ghosn in Japan. According to sources close to the case, the group is going
meet Tuesday night its board to discuss a replacement
temporary of the leader.
    In the overall context of risk aversion, the most
defensive are sought, such as "utilities" .SX6P (+ 0.58%), health
 .SXDP (+ 0.31%) and food and drinks .SX3P (+ 0.31%).
    
    A WALL STREET
    The Dow Jones index dropped 1.56% on Monday and the S & P-500 .SPX lost
1.66%. The Nasdaq Composite .IXIC dropped 3.03%, its strongest
percentage decline on one session for almost a month.
    The sector index of FANG .NYFANG has lost nearly 4% and is heading towards
its third consecutive monthly decline. Among them, Apple yielded 3.96% after
a Wall Street Journal article that the group reduced its orders
for the production of the three iPhone models launched in September.
    Facebook FB.O (-5.9%) fell to its lowest level since
February 2017.
    The S & P High Tech Index .SPRLCT fell 3.8%.
    
    IN ASIA
    The decline in US technology stocks has spread to Asia and has
weighed in particular on the Tokyo Stock Exchange .N225 which ended down 1.09%.
The Japanese index also suffered from the decline of Nissan 7201.T (-5.45%) after
accusations of financial fraud against its president Carlos Ghosn.
 
    The Kospi index in Seoul .KS11, heavily weighted in "tech" values, has
fell 0.86% and the Hong Kong Stock Exchange .HSI lost 2.02%. The CSI 300 index
 .CSI300 large-cap Chinese mainland fell 2.31%.
    
    RATE
    Risk aversion favors a return to the bond market. The
10-year US government bond yield, which had already fallen after
remarks deemed cautious by several officials of the Federal Reserve
(Fed), moving around 3.04%, to a low since the end of September.
 US10YT = RR
    The trend is similar in Europe where the yield of the German Bund at ten
years, reference for the euro area, returns to the threshold of 0.35%. DE10YT = RR
    On the other hand, Italian sovereign rates rise before the probable
opening on Wednesday by the European Commission of a sanction procedure
against Italy for excessive deficit. Yield gap between paper at 10
years Italian and its German equivalent DE10IT10 = RR has exceeded 335 points
basis (bps), at the high of a month.
    Council Vice President Luigi di Maio said on Tuesday that a solution
could be found with Brussels on the 2019 budget but that it should not be
touch on its main provisions.
    
    EXCHANGE
    The return to sheltered assets favors the dollar, penalized the day before by
recent comments from Fed officials and the figure clearly
lower than the expectations of the NAHB index of the US real estate market.
    The dollar index, which measures the evolution of the greenback against a basket of
reference currencies, regains 0.15%, moving away from a low of almost two
weeks. .DXY
    The euro fell to around EUR 1.14 = and the pound lost 0.1%
against the greenback GBP = with lingering tensions around the agreement on
the Brexit found between London and Brussels but struggling to convince
in Britain.
    British Prime Minister Theresa May is in trouble, and according to the
head of the BBC's political service on Monday night, he would only be missing five
letters to trigger a vote of no confidence.
    
    OIL
    Crude prices are heading down sharply, penalized by the
deterioration in global growth prospects and the rise in
oil production in the United States, which counterbalances the expectations of a
reduction of production by OPEC member countries.
    The barrel of Brent LCOc1 fell below 66 dollars and the barrel of light crude
American (WTI) CLc1 is trading at less than $ 57.
    
    MAIN ECONOMIC INDICATORS AT THE AGENDA OF NOVEMBER 20:
 COUNTRIES GMT INDICATOR PERIOD CONSENSUS PREVIOUS
 USA 13h30 Housing starts October 1,225 mlns 1,201 mlns
                       Building permit October 1,267 mlns 1,220 mlns
 
    MARKET SITUATION
    (Some data may show a slight shift)
    
    
  MARKETS
 EUROPEAN
                                                                
 Indices Last Var. Var. % YTD
                          Points
 Eurofirst 300 1388.98 -10.29 -0.74% -9.19%
  .FTEU3
 Eurostoxx 50 3133.96 -26.37 -0.83% -10.56%
  .STOXX50E
 CAC 40 4944.25 -41.20 -0.83% -6.93%
  .FCHI
 Dax 30 11134.30 -110.24 -0.98% -13.81%
  .GDAXI
 FTSE .FTSE 6961.09 -39.80 -0.57% -9.45%
 SMI .SSMI 8793.50 -19.11 -0.22% -6.27%
  Values ​​to follow in Paris and
 in Europe: WATCH / LFR
                                                                
  SCHOLARSHIPS
 ASIAN
 Indices Closing Var. Var. % YTD
                          Points
 Nikkei-225 21583.12 -238.04 -1.09% -5.19%
  .N225
 Topix .TOPX 1625.67 -11.94 -0.73% -10.56%
 Hong Kong 25840.34 -531.66 -2.02% -13.63%
  .HSI
 Taiwan 9743.99 -84.70 -0.86% -9.03%
  .TWII
 Seoul .KS11 2082.58 -17.98 -0.86% -15.60%
 Singapore 3026.99 -38.08 -1.24% -11.05%
  .STI
 Shanghai 2645.85 -57.66 -2.13% -20.00%
  .SSEC
 Sydney 5671.80 -21.90 -0.38% -6.48%
  .AXJO
 The fence in Tokyo:
  .TFR
                                                                
  WALL STREET
  The session
 former :
 Indices Last Var. Var. % YTD
                          Points
 Dow Jones 25017.44 -395.78 -1.56% + 1.21%
  .DJI
 S & P-500 2690.73 -45.54 -1.66% + 0.64%
  .SPx
 Nasdaq 7028.48 -219.40 -3.03% + 1.81%
  .IXIC
 Nasdaq 100 6642.92 -224.10 -3.26% + 3.85%
  NDX
                                                                
  Report of the meeting in Wall
 Street: .NFR
 "The Day Ahead" - Update on the next session
 Wall Street DAY / US
                                                                
  EXCHANGE
                Course Veille Var.% YTD
 Euro / Dlr 1.1432 1.1451 -0.17% -4.70%
  EUR =
 Dlr / Yen 112.36 112.54 -0.16% -0.28%
  JPY =
 Euro / Yen 128.51 128.91 -0.31% -4.93%
  EURJPY =
 Dlr / CHF 0.9922 0.9935 -0.13% + 1.84%
  CHF =
 Euro / CHF 1,1343 1,1378 -0.31% -2.96%
  EURCHF =
 Stg / Dlr 1.2839 1.2849 -0.08% -4.99%
  GBP =
 Index $ 96,2960 96,1930 + 0.11% + 4.53%
  .DXY
                                                                
 GOLD
                Course Veille Var.% YTD
 Gold Spot 1224.05 1223.98 + 0.01% -6.02%
  XAU =
                                                                
  RATE
                                                                
                          Last Var. Spread / Bund
                                                 (Pts)
 Future Bund 160.82 +0.22
  FGBLc1
 Bund 10 years 0.36-0.02
  DE10YT = RR
 Bund 2 years -0.66 -0.02
  DE2YT = RR
 OAT 10 years 0.77 -0.02 +40.97
  FR10YT RR =
 Treasury 10 years 3.05 -0.01
  US10YT = RR
 Treasury 2 years 2,79 +0.01
  US2YT = RR
                                                                
  OIL
 (in dollars) Courses Previous Var Var% YTD
                          t
 Light crude US 56.58 57.20 -0.62 -1.08% -6.36%
  CLc1
 Brent LCOc1 65.98 66.79 -0.81 -1.21% -1.33%
                                                                
 
    
    
 (Edited by Wilfrid Exbrayat)