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European shares end the day with mixed results

  
Analysis, Global Indices

German DAX up marginally.  Francis CAC and UK FTSE 100 down marginally

The European shares are ending the day with mixed results. The provisional closes are showing:
  • German DAX, +0.2%
  • France’s CAC, -0.2%
  • UK FTSE 100, -0.2%
  • Spain’s Ibex, +0.2%
  • Italy’s FTSE MIB, +0.15%
In the European debt market, the benchmark 10 year yields are all trading to the downside. Italy is leading the way with a decline -6.4 basis points. France’s 10 year is down – -3.8 basis points.
German DAX up marginally.  Francis CAC and UK FTSE 100 down marginallyIn the forex, the snapshot of the market currently shows the EUR as the strongest, while the GBP is the weakest. The USD has gained in the NY session and trades near NY session highs vs the EUR, GBP, CHF, CAD, AUD and NZD.

Eurostoxx futures +0.3% in early European trading

  
Analysis, Global Indices

Slightly more positive tones in early trades

  • German DAX futures +0.2%
  • UK FTSE futures +0.2%
  • Spanish IBEX futures +0.2%
This mirrors the mood in US futures, where S&P 500 futures are up 0.3% on the day.
The positive mood carries over from Asia with the Nikkei closing up by 0.7% while Chinese equities are performing relatively strong with the Hang Seng up 1.6% and Shanghai Composite up 2.3% near session highs at the moment.

European indices end the day mostly higher

  
Analysis, Global Indices

UK FTSE 100 lower on the week

The European major indices are ending the day mostly higher.  The snapshot of the provisional closes are showing:

  • German DAX, +0.4%
  • France’s CAC, +0.7%
  • UK FTSE 100 , flat
  • Spain’s Ibex, +0.8%
  • Italy’s FTSE MIB, +1.0%
For the week, the UK FTSE 100 felt modestly. The other major indices were higher:
  • German DAX, +0.14%
  • France’s CAC, +0.1%
  • UK FTSE 100, -0.3%
  • Spain’s Ibex, +0.6%
  • Italy’s FTSE MIB, +0.7%
Looking at the daily chart of the German DAX, the index on Tuesday reached a new all-time intraday high of 15538.01 before rotating back to the downside. The move lower saw the price retest its 50 day moving average (white line in the chart below currently at 15075).
The price on Wednesday did dipped below that moving average level but recovered into the close. On Thursday, the low state above the level. Today the range was much more narrow with a higher bias.
UK FTSE 100 lower on the week
In other markets as London/European traders look to exit.
  • Spot gold is trading near unchanged at $1876.50 (down $0.70 or -0.04%).
  • Spot silver, $-0.33 or -1.2% at $27.42
  • WTI crude oil futures are recovering today and up two dollars or 3.26% at $63.96. The high for the day just reached $64.07
  • Bitcoin is trading down $-2500 or -6.45% at $37,488
In the US stock market, the NASDAQ index has turned negative. The Dow industrial leads the way higher today.
  • S&P +11.88 points or 0.29% at 4171.21
  • NASDAQ index -21.08 points or -0.16% at 13514.30
  • Dow industrial average up 250 points or 0.74% at 34333

European shares rebound higher in trading today

  
Analysis, Global Indices

Major indices closing higher on the day. German DAX up 1.5%

The major European indices are rebounding from yesterday’s sharp declines which is all the German DAX fall -1.77%. Today that index is up 1.5% – nearly fully retracing the declines.

A look at the provisional closes are showing:
  • German DAX, +1.5%
  • France’s CAC, +1.2% (it fell -1.43% yesterday)
  • UK’s FTSE 100, +0.9% (down -1.19% yesterday)
  • Spain’s Ibex, +0.2%
  • Italy’s FTSE MIB, +0.6%
In other markets as European/London traders look to exit,
  • Spot gold is trading up $8.29 or 0.44% at $1877.90.
  • Spot silver is up at $0.12 or 0.44% at $27.85
  • WTI crude oil futures are trading down $0.39 or -0.62% at $62.97
  • Bitcoin is rebounding by $3300 or 8.6% at $41,640
In the US debt market, yields are lower, led by a -3.2 basis point decline in the 10 year.
Major indices closing higher on the day. German DAX up 1.5%_In the European debt market benchmark 10 year yields were also lower with the exception of a small 0.2 basis point gain in Germany.
us stocks
In the US stock market, the NASDAQ index is up 218 points or 1.64%, and in the process, has moved back above its 100 hour moving average at 13491.  That tilts the bias more to the upside once again.

Equities bounce into the European close

  
Analysis, Global Indices

Some life into the finish

Some life into the finish
The S&P 500 has trimmed its decline to 37 points. The opening ‘high’ is 4098 compared to 4090 now. If it can get into the opening gap, we could see a further bounce.
Meanwhile, it’s a rough day for European equities but the closes are around 1% above the lows.
  • UK FTSE 100 -1.3%
  • German DAX -1.7%
  • French CAC -1.5%
  • Italy MIB -1.4%
  • Spain IBEX -1.5%
For the S&P 500, it also looks like the market is trying to carve out a double bottom.

European shares close higher on the day

  
Analysis, Global Indices

Modest gains for the major indices

The European shares are closing higher on the day with modest gains:

  • German DAX, +0.1%
  • Francis CAC, flat
  • UK’s FTSE 100, +0.2%
  • Spain’s Ibex, +0.4%
  • Italy’s FTSE MIB, +0.1%
In the forex market as London/European traders look to exit, the CHF is the strongest of the majors, while the USD remains the weakest.  Although lower, the USD has moved higher off the opening North American levels. The greenback is moving to new NY session highs vs the EUR, CHF, CAD, AUD and NZD into the London close.

Eurostoxx futures +0.7% in early European trading

  
Analysis, Global Indices

A more positive vibe in early trades

  • German DAX futures +0.6%
  • UK FTSE futures +0.7%
  • Spanish IBEX futures +0.5%
This mirrors the mood in US futures, where we are seeing S&P 500 futures up 0.3% and Nasdaq futures up by 0.6% to get things going on the session.
Treasury yields are keeping steady, with 10-year yields seen at 1.64% though the dollar is keeping slightly on the backfoot as we get into European trading.

Risk keeps in a good spot ahead of European trading

  
Analysis, Global Indices

Asian equities higher, US futures also higher

Nasdaq futures are pulling up by 0.5% now as the risk mood looks to be n a better spot after a bit of a retreat seen earlier to start the new week yesterday.
Asian stocks are also faring well with the Nikkei up over 2% and the Hang Seng up a little over 1% currently. The Shanghai Composite is less enthused, up by just 0.2%.
With US futures keeping higher, the market looks to be bouncing back from the drop yesterday but we will see if there will be any surprise headlines to follow later in the day.
It is still early to be calling anything at the moment but sentiment is at least keeping calmer after much jitters surrounding tech stocks from a week ago. It is still all about inflation talk for now but things have been rather quiet on that front this week.

Major European indexes mixed to start the trading week

  
Analysis, Global Indices

Mostly modest changes in the major indices

The major European indices are closing the day mixed to start the trading week. The end of day changes are mostly modest.
The provisional closes are shown
  • German DAX, -0.1%
  • France’s CAC -0.2%
  • UK’s FTSE 100, -0.1%
  • Spain’s Ibex, +0.1%
  • Italy’s FTSE MIB, +0.4%

In other markets as London/European traders look to exit:

  • Spot gold is trading at $1865.27, up $21 or 1.16%. The price traded at its highest level since early February 1 today with the high price reaching $1865.99 (and is also  above its 200 day moving average at $1846.12).
  • Spot silver is up $0.66 or 2.44% at $28.09
  • WTI crude oil futures are trading up $0.77 or 1.18% at $66.14
  •  Bitcoin has moved back into negative territory and trades down $-430 or -0.98% at $43,626.  The high price reached $46,646.15. The low price extended to $42,141
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