• German DAX, -149.15 points or -1.16%
• France’s CAC -43.98 points or -0.73%
• UK’s FTSE 100 -53.47 points or -0.74%
• Spain’s Ibex -69.9 points or -0.87%
• Italy’s FTSE MIB, -199 points or -0.93%

• German DAX fell -1.4%
• France’s CAC, fell -0.61%
• UK’s FTSE 100, unchanged
• Spain’s Ibex, -0.43%
• Italy’s FTSE MIB -0.95%

Last quarter was rough for European stocks and there wasn’t exactly a rush to buy into the new quarter:

• UK FTSE 100 -0.2%
• Stoxx 600 -0.1%
• German DAX +0.1%
• French CAC +0.1%
• Italy MIB +0.3%
• Spain IBEX +0.8%

On the week:

• UK FTSE 100 -0.7%
• Stoxx 600 -1.45%
• German DAX -2.3%
• French CAC -2.3%
• Italy MIB -3.5%
• Spain IBEX -1.0%

There is some breathing room in some of these markets but the Italian MIB is up against it. If anyone tells you that stocks always win in the long term, shown them the MIB, which is at 1998 levels.

• German DAX futures -0.7%
• UK FTSE futures -0.7%
• Spanish IBEX futures -0.7%

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.

• Stoxx 600 +2.6%
• German DAX +1.7%
• UK FTSE 100 +2.7%
• French CAC +3.4% — best day in more than three months
• Italy MIB +2.3%
• Spain IBEX +1.8%

On the week:

• Stoxx 600 +2.2%
• German DAX -0.1%
• UK FTSE 100 +2.6%
• French CAC +3.2%
• Italy MIB +2.6%
• Spain IBEX +1.3%

Even with the best day in months, the weekly candle in the CAC still doesn’t cover last week’s decline.

• Stoxx 600 -0.6%
• German DAX -1.5%
• UK FTSE 100 -0.9%
• Italy MIB -0.4%
• French CAC -0.4%
• Spain IBEX -0.%

Despite the improved tone in US equities, the DAX closed below the previous June lows and only has two worse closes this year.