Auto manufacturing industry
On December 10, 2015, the auto manufacturing industry yielded the highest positive return of 2.5% within the SPDR Euro STOXX 50 ETF (FEZ). Auto manufacturing constitutes 7% of FEZ’s holdings. The high point of the day was that all the auto manufacturer stocks had positive returns.
Stocks such as Volkswagen (VLKAY), Daimler (DDAIF), and BMW gained 0.87%, 0.92%, and 0.65%, respectively on December 10. The auto manufacturing industry is a direct beneficiary of falling crude oil prices.
The transportation industry rose 1.6% on December 10. It provided the second highest return after the auto manufacturing industry. Transportation stock Deutsche Post rose 1.6% that day.
Banking industry, the biggest loser
In contrast, the banking industry fell 3.5% for the second consecutive day on December 10, 2015. Investors’ focus shifted to the crucial outcome of the upcoming Federal Reserve meeting and a possible interest rate lift-off.
Ahead of the Federal Reserve meeting, banking stocks became more volatile. Stocks such as UniCredit (UNCFF), ING Groep (ING), Banco Santander (SAN), and Société Générale fell 1.1%, 1%, 0.65%, and 0.26%, respectively, on that day. The financial sector (XLF) was marginally higher on December 10 and gained 0.08% that day.