European shares rebound after last week’s collapse

German Dax up 1.9% after last week’s decline of -8.6%

The European indices are rebounding higher today after last week’s collapse. Last week the

  • German DAX fell -8.6%,
  • France CAC fell -6.2%
  • UK FTSE was down by around -5%.
Today the provisional closes are showing:
  • German DAX, +2.0%
  • France’s CAC, +2.0%
  • UK FTSE 100, +1.4%
  • Spain’s Ibex, +2.0%
  • Italy’s FTSE MIB, +2.2%
In the European debt market, the benchmark 10 year yields saw yields move lower on concerns about lower growth and potentially more stimulus by the ECB in December. The UK 10 year is down -4.2 basis points leading the way to the downside.
German Dax up 1.9% after last week's decline of -8.6%_
In other markets as London/European traders look to exit shows:
  • Spot gold is up $13 or 0.7% at $1891.96
  • Spot silver is trading up $0.23 or 0.97% $23.88
  • WTI crude oil futures are trading up $0.25 or 0.7% $36.04
In the US stock market, the major indices are higher led by the Dow industrial average (up 1.5%), but off there highest levels. The NASDAQ index lags with only a 0.37% gain.
  • S&P index up 1.23%
  • Dow industrial average up 1.53%
  • NASDAQ index up 0.35%
In the US debt market, yields are lower, despite the rise in equities today:
  • 2 year 0.152%, unchanged
  • 5 year 0.367%, -1.7 basis points
  • 10 year 0.835%, -3.8 basis points
  • 30 year 1.615%, -4.4 basis points