Major indices in Europe close sharply lower

For the week major indices close sharply higher

The major indices are closing the day lower with the UK’s FTSE 100 leading the way to the downside:
  • German DAX, -1.6%
  • France’s CAC, -1.5%
  • UK’s FTSE 100, -2.5%
  • Spain’s Ibex, -2.3%
  • Italy’s FTSE MIB, -0.7%
For the week, the major indices closed sharply higher with the France’s CAC and Spain’s Ibex leading the way:
  • German DAX, +4.7%
  • France’s CAC, +6.13%
  • UK’s FTSE 100, +1.2%
  • Spain’s Ibex, +6.3%
  • Italy’s FTSE MIB, +5.2%

Looking at the daily chart for the German DAX, the index moved above its 100 day moving average for the 1st time since February 24 this week. That moving average currently comes in at 11559.22. The price is closing above that level trading today giving a more positive bias despite the declines on the day.. The low today in the German DAX reached 11575.74 – above that key moving average level.