This owes much to Europe having to play catch up to the drop in Wall Street yesterday. US futures are looking calmer so far, with S&P 500 futures up 0.1% currently. That is keeping a calmer mood among major currencies for the most part as the session gets underway.
That carries over the positive tone from yesterday, though it hardly chips into the fall from last week. For now, equities are keeping the calm but I reckon we might get more volatility once Wall Street enters the fray later today.
Elsewhere, US futures are keeping more positive with S&P 500 futures up 1.5%*, Nasdaq futures up 1.5%*, and Dow futures up 1.3%*.
The major European indices are ending the day with modest gains/changes. The exception is the UK FTSE 100 which fell -0.41% the day. However for the week, all the indices are down sharply.The final numbers for the day are showing:
German DAX, +87.77 points or 0.67% at 13126.27
France’s CAC, -3.59 points or -0.06% at 582.66
UK’s FTSE 100 -28.73 points or -0.41% at 7016.26
Spain’s Ibex +67.8 points or 0.84% at 8145.91
Italy’s FTSE MIB up 0.43%
For the trading week:
German DAX, -4.7%
France’s CAC -4.8%
UK’s FTSE 100 -4.0%
Spain’s Ibex -3.0%
Italy’s FTSE MIB -3.2%
Looking at the German DAX, the price gap lower on Monday (last Friday the price closed at 13761.84), bottomed on Thursday at 13007.91, before modestly rising today. The move up from the June 6 high at 14709.382 the low reached yesterday took the price down -11.57% in a trading days.
Looking at other indices recent moves to the downside:
France’s CAC fell -10.96% from its June 6 high to the low today
UK FTSE 100 fell -8.48% from its June 6 high to the low today
Spain’s Ibex has moved down -10.75% from its May 30 high to the low today
Italy’s FTSE MIB has fallen -12.96% from its May 30 high to its Wednesday low this week
In comparison to the recent moves lower in the US stock indices: