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Eurostoxx futures -1.2% in early European trading

  
Analysis, Global Indices
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Risk on the defensive in early trades

  • German DAX futures -1.2%
  • UK FTSE futures -1.2%
  • Spanish IBEX futures -0.9%
There is some slight catching up involved to the declines in US stocks yesterday but for the most part, this reflects the defensive and sluggish sentiment today as well.
US futures are also marked lower, with S&P 500 futures down 0.4%, Nasdaq futures down 0.7%, and Dow futures down 0.2% to get things started on the session.
Major currencies are little changed but if the defensive posture keeps up, we may see some risk aversion flows start to seep in later in the day.

Nikkei 225 closes down by 3.08% at 28,608.59

  
Analysis, Global Indices

A torrid day for Japanese stocks

Meanwhile, the Topix closes down by 2.4% at 1,905.92. This is the worst showing by the Nikkei since the 4% plunge at the end of February trading.
The decline today sees both indices slip just below their respective 100-day moving averages with the Nikkei nearing support from the March and April lows at 28,300-400.
The drop here follows the sluggish sentiment since US trading yesterday, though mainland Chinese stocks are defying the odds late in Asia currently.
The Hang Seng is down 1.7% but the Shanghai Composite is up near the highs for the day now as it climbs by 0.4% after keeping lower earlier in the day.
US futures are still keeping rather defensive, with S&P 500 futures down 0.4% and Nasdaq futures down 0.7% ahead of European trading.

European shares close higher. France’s CAC trades closes at a new high going back to 2000

  
Analysis, Global Indices
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Solid week for the major indices as well

The European shares a closing higher with the German DAX rising 1.2% leading the way. The major indices also closed higher for the week.
A look at the provisional closes shows:
  • German DAX, +1.2%
  • France’s CAC +0.3%
  • UK’s FTSE 100, +0.7%
  • Spain’s Ibex, +0.8%
  • Italy’s FTSE MIB,  +0.35%

For the week, the major indices also are ending higher on the week

  • German DAX, +1.6%
  • France’s CAC, +1.65%
  • UK FTSE 100, +2.3%
  • Spain’s Ibex, +2.6%
  • Italy’s FTSE MIB +1.8%
The CAC index is closing at the highest level since October 2020.
Solid week for the major indices as well

European shares ending the session mixed

  
Analysis, Global Indices

UK FTSE 100 rises. German DAX, France’s CAC near unchanged

The major European indices are ending the session mixed.

They snapshot of the provisional closes shows:
  • German DAX, unchanged
  • France’s CAC, +0.1%
  • UK’s FTSE 100, +0.3%
  • Spain’s Ibex, -0.1%
  • Italy’s FTSE MIB, -0.1%
in other markets as European traders look to exit:
  • Spot gold is surging by about $30 a 1.67% and is back above the $1800 level at $1816.70
  • SPot silver is up $0.95 for 3.59% at $27.44
  • WTI crude futures are down $0.48 a -0.73% at $65.15
  • Bitcoin is up $200 or 0.38% at $57100
In the US debt market, yields are fluctuating above and below unchanged. The current yields are marginally lower on the day:
UK FTSE 100 rises. German DAX, France's CAC near unchanged_
The price action in the forex market has seen mixed price action.
The CAD is now the strongest of the majors as the USDCAD continues its move to the downside and traded to the the lowest level since September 2017 (broke the 2018 low at 1.2245 today). The GBP is now the weakest of the majors. The USD is still mostly lower with the controversial the major currencies with the exception of the GBP now.

European shares follow the US stocks lower. German Dax leads the way

  
Analysis, Global Indices

German Dax falls -2.5%

The major European indices all fell led by the German Dax which fell 2.5%. The Spain’s Ibex and UK FTSE 100 were positive at the start of the North American session, but has moved solidly into negative territory at the close.

The provisional closes are showing
  • German Dax, -2.5%
  • Frances CAC, -0.9%
  • UK’s FTSE 100, -0.7%
  • Spain’s Ibex, -0.7%
  • Italy’s footsie MIB, -1.8%
Looking at other markets as European/London traders look to exit:
  • S&P index is trading down -60.46 points or -1.45% at 4132.20. The index is making new session lows
  • NASDAQ index -398 points or -2.86% at 13497.30. It too is trading at session lows
  • Dow is down -273 points or -0.80% at 33841. The low price reached 33765.68.
In the US that market, yields are mostly lower with the two-year up 0.2 basis points.
US yields
In the European debt market, the benchmark 10 year yields all fell with the Italian yield down -1.1 basis points. The UK 10 year was down -4.6 basis points.

European shares end higher

  
Analysis, Global Indices

German DAX realizes zero point

The major European indices are ending the day higher. German DAX rose 0.6%. France’s CAC is up 0.5%

A look at the provisional closes shows:
  • German DAX up 0.6%
  • France’s CAC up 0.5%
  • Spain’s Ibex, up 0.9%
  • Italy’s FTSE MIB, +1.1%
Recall UK markets are closed today for the early May bank holiday.
Other markets as European traders looked exit:
  • Spot gold is trading higher by $22.24 or 1.26% at $1791.40. The high price reached $1797.98.
  • Spot silver is up $0.93 or 3.61% at $26.85
  • WTI crude oil futures are up $0.89 or 1.38% at $64.47
  • The price of bitcoin is trading up $853 or 1.5% at $57,908.47.
In the US debt market, yields have reversed lower earlier higher levels. The 10 year yield reached a high of 1.653%. Is currently trading at 1.614%. That is still above the low for the day 1.576% in volatile trading.

Mixed close for European stocks to end the week

  
Analysis, Global Indices

Mixed results for the week

The European major indices are ending the week with mixed result today and also ending the week mixed.
The provisional closes are showing:
  • German DAX, flat
  • France’s CAC, -0.5%
  • UK’s FTSE 100, up 0.2%
  • Spain’s Ibex, unchanged
  • Italy’s FTSE MIB, -0.45%
For the week,:
  • German DAX -0.9%
  • France’s CAC, +0.2%
  • UK’s FTSE 100, +0.45%
  • Spain’s Ibex, +2.3%
  • Italy’s FTSE MIB, -1.0%
How did the indices end the month? The major indices are mostly higher with Italy’s FTSE MIB the one exception.
  • German DAX up 0.9%
  • France’s CAC, +3.3%
  • UK’s FTSE 100, +3.8%
  • Spain’s Ibex, +2.7%
  • Italy’s FTSE MIB, -2%
A look at other markets as London/European traders look to exit for the week and month:
  • Spot gold is trading down $3.58 or -0.2% of $1768.71
  • SPot silver is down -16 censor -0.64% at $25.92
  • WTI crude oil futures is down $1.53 or 2.35% at $63.48
  • Bitcoin is trading up $3900 or 7.39% of $56,900.

Nikkei 225 closes down by 0.83% at 28,812.63

  
Analysis, Global Indices

Asian equities dragged lower on the day

The Topix also closes lower by 0.6% to 1,898.24 with the 100-day moving average level coming back into focus for both the Nikkei and Topix going into May.
Elsewhere in the region, the Hang Seng is down 1.6% while the Shanghai Composite is down 1.0% as equities slump – not helped by the more subdued tone in US futures.
 
US stocks may have overcome a stumble midway through yesterday’s session but there are still concerns about a short-term peak with the month-end in focus today.
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