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Major European indices end the session with mixed results

  
Analysis, Global Indices

UK’s FTSE and Spain’s Ibex move higher

The major European indices are ending the session today with mixed results. PMI flash estimates were stronger than expected. Yields moved higher. UK FTSE and Spain’s Ibex moved higher. Other indices are lower on the day.

  • German DAX, -1.0%
  • France’s CAC -0.7%
  • UK’s FTSE 100 +0.3%
  • Spain’s Ibex, +0.12%
  • Italy’s FTSE MIB -1.3%
Looking at the benchmark 10 year yields, yields are higher across the board but well off their high levels.
UK's FTSE and Spain's Ibex move higher_

Eurostoxx futures +0.1% in early European trading

  
Analysis, Global Indices

Light gains in early trades

  • German DAX futures +0.1%
  • UK FTSE futures +0.2%
  • Spanish IBEX futures +0.2%
Risk sentiment is holding up decently as we look towards the session ahead, with US futures also keeping higher by around 0.3% currently.
That points to a more optimistic mood on the balance of things, as tech stocks (Nasdaq specifically) will be looking to advance to fresh record highs again later.
Keep in mind that trading this week will be a shorter one – or at least normal trading conditions – considering the Thanksgiving holiday on Thursday.

European major indices close the day lower

  
Analysis, Global Indices

Changes for the week are mixed

The major European indices are closing the day lower led by declines in the Spain’s Ibex and Italy’s FTSE MIB. The move to the downside were triggered by fears of the Covid resurgence. Austria announced that they would lockdown starting Monday and require vaccinations. Other levels of resurgence in Covid cases are happening on the continent,, boosting fears of an economic slowdown.

The provisional closes are showing:

  • German DAX, -0.3%
  • France’s CAC, -0.36%
  • UK’s FTSE 100 -0.4%
  • Spain’s Ibex, -1.6%
  • Ital in Covid cases ‘s FTSE MIB -1.1%
For the trading week, the indices France’s CAC and German Dax moved higher while the other indices move to the downside.  Both the CAC and the DAX reach new all-time highs this week before backing off.
  • German DAX +0.49%
  • France’s CAC, +0.35%
  • UK’s FTSE 100, -1.65%
  • Spain’s Ibex, -3.5%
  • Italy’s FTSE MIB, -1.4%
in other markets as London/European traders look to exit:
  • Spot gold is trading down $1.30 or -0.07% at $1857.26
  • Spot silver is trading up nine cents or 0.36% at $24.86
  • WTI crude oil futures are trading down $-3.44 or -4.36% at $75.41
  • Bitcoin is trading higher by about $1000 of $58,032
In the US stock market, the S&P and NASDAQ are on track for record closes. The Dow industrial average is a lower:
  • Dow industrial average -166 points or -0.47% at 35702.26
  • S&P index +5.32 points or 0.11% at 4709.98. The all-time high price for the S&P index is at 4718.50. It’s high price today has so far reached 4710.88
  • NASDAQ index +117.77 points or 0.74% 1611.79. The NASDAQ index traded to an all-time high price today
In the US debt market as London traders look to exit, yields are lower with a flatter yield curve. The two – 10 year spread as moved into 105.7 basis points from 108.5 basis points near the close yesterday.
Changes for the week are mixed_In the European debt market, the 10 year yields are lower with the UK yields down the most at -4.8 point basis points.
European benchmark 10 year yields

Major European indices are ending the session with mixed results.

  
  Global Indices

German DAX and France’s CAC close at another record high

The major European indices are ending the session with mixed results. Both the German Dax and the France’s CAC indices are closing at record highs. The provisional closes are showing:
  • German DAX, +0.6%
  • France’s CAC, +0.4%
  • UK’s FTSE 100 -0.2%
  • Spain’s Ibex -0.6%
  • Italy’s FTSE MIB -0.1%

The German index has now been up for five consecutive days. It reached a new all-time intraday high of 16266.26 today.  Since October 6, the index is up 9.64%

For the France’s CAC, it too has been up for five consecutive days. It reached a new all-time

European equity close: Italian shares surge to finish a strong week

  
Analysis, Global Indices

European equity closing levels:

  • UK FTSE 100: +0.4%
  • German DAX: +0.1%
  • French CAC: +0.6%
  • Italy MIB: +0.9%
  • Spain IBEX: +0.9%
Weekly changes:
  • UK FTSE 100: +0.9%
  • German DAX: +2.3%
  • French CAC: +3.0%
  • Italy MIB: 3.4%
  • Spain IBEX: +0.7%
Italy’s FTSE MIB index retested the old highs late last week and followed that with gains in four of five days this week. It’s clear skies above:
European equity closing levels:

European major indices closing mixed

  
Analysis, Global Indices

UK’s FTSE 100/Spain’s Ibex are lower

The major European indices are ending the session with mixed results. The provisional closes are showing:
  • German DAX, flat
  • France’s CAC, +0.4%
  • UK’s FTSE 100 -0.4%
  • Spain’s Ibex, -1.0%
  • Italy’s FTSE MIB +0.5%
In other markets, as London/European traders look to exit shows:
  • Spot gold is trading down $24.65 or -1.38% at $1762.76
  • Spot silver is down $0.32 or -1.37% at $23.18
  • WTI crude oil futures are down around three dollars or -3.56% at $80.92. The low price reached $80.66 between a swing area between $80.58 and $80.78
  • Bitcoin is trading down $875 at $62,380
In the forex market, the GBP is fighting with the NZD as the s strongest of the majors. The JPY is the weakest. The USD is mixed with marginal gains and losses versus the EUR, JPY, CHF, CAD and AUD. The greenback is lower verse the GBP and NZD. The market is awaiting the FOMC decision at 2 PM.
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