Archives of “Global Indices” category

rss

Mixed result in for European stock indices to end the week

  
Analysis, Global Indices

Big declines for the week for the major European stock indices

The European major indices are ending the session with mixed results for the day. For the week gets a different story as shares plunged across the European continent.
The provisional closes are showing:
  • German Ibex, -0.19%
  • France’s CAC, +0.61%
  • UK’s FTSE 100, +0.14%
  • Spain’s Ibex, +0.4%
  • Italy’s FTSE MIB, +0.3%
For the week, the provisional closes are showing:
  • German DAX, -8.5%
  • France’s CAC, -6.4%
  • UK’s FTSE 100, -4.7%
  • Spain’s Ibex, -6.5%
  • Italy’s FTSE MIB, -6.9%
Looking at the daily chart for the German DAX, the lows this week scraping along the 38.2% retracement of the 2020 trading range. That level comes in at 11472.22 the low today at 11450.08 dipped below that level, but rebounded back higher by the close. Move below that level next week would be more bearish.
Big declines for the week for the major European stock indices

German DAX snaps 3 day slide

  
Analysis, Global Indices

Major European indices end the session mixed

The German DAX is snapping a 3 day slide with a modest 0.13% gain. Overall the market results were mixed and European equity markets. Provisional closes are showing

  • German DAX, +0.13%
  • France’s CAC, -0.19%
  • UK’s FTSE 100, -0.22%
  • Spain’s Ibex, -0.8%
  • Italy’s FTSE MIB, unchanged
The German DAX fell close to 13% from its October high, best concerns about growth with Covid cases rising.
Looking at the daily chart below, the German DAX price fell down to test the 38.2% retracement of the move since the March low. That level came in at 11472.94. The low price today reached 11458.56 just below that level, but could not sustain momentum. Keep that level mind going forward. Stay above is more bullish, move below and we could see further probing to the downside.
Major European indices end the session mixed 

German DAX falls over 4.4% and leads the spiral and European indices

  
Analysis, Global Indices

Covid cases soaring and restrictions are being put in place

The major European stock indices spiraled to the downside today as Covid cases are soaring and restrictions are being implemented. The provisional closes are showing:

  • German DAX, -4.42%
  • France’s CAC, -3.69%
  • UK’s FTSE 100, -2.84%
  • Spain’s Ibex, -2.5%
  • Italy’s FTSE MIB, -3.6%
German’s Merkel is just out saying the speed of the virus is spread is especially high, and we are seeing exponential growth. She adds:
  • numbers in intensive care units have doubled over the past 10 days
  • in many areas we are no longer able to track and trace because of capacity limits
  • curve must be flattened again
In the European debt market, the benchmark 10 year yields were mixed with investors moving into German and UK debt but shunning Spain, Italy and Portugal.
European tenure debtA look at other markets as London/European traders look to exit shows:
  • spot gold is tumbling $26.68 or -1.4% at $1881.33. The precious metal is following the flows into the US dollar
  • spot silver is down $0.97 or -3.99% at $23.39
  • WTI crude oil futures are down $2.40 or -6.04% at $37.19. The low for the day reached $37.04. That is just above the 38.2% retracement of the move up from the April low which comes in at $37.06, and the low from September at $36.93.
In the US equity market, the major indices are down around 3% but off there lows:
  • S&P index -98.89 points or -2.92% at 3291.70. The low price reached 3284.51. The prices below its 100 day moving average at 3306.27
  • NASDAQ index is down 351 points or -3.07% at 11080.92. It’s low reached 11064.27
  • Dow industrial average is down 800 points or -2.9% at 26665. The low price reached 26579.14
In the US debt market yields are little changed despite the sharp move to the downside in equities.
US yields are marginally lower

European equities open lower to start the day

  
Analysis, Global Indices

The anticipation of Germany, France shutdowns weigh on the mood

  • Eurostoxx -1.4%
  • Germany DAX -2.2%
  • France CAC 40 -2.0%
  • UK FTSE -1.2%
  • Spain IBEX -1.4%
The softer risk mood is starting to be reflected more in the FX space, with EUR/USD easing to a session low of 1.1760 and GBP/USD also down to 1.3020 nearing a test of its 200-hour moving average currently.
From a technical perspective, the drop in European equities is looking quite ugly with the DAX now falling past its 25 June low upon a break below the 200-day moving average:

European equity’s end the session lower

  
Analysis, Global Indices

Spain’s Ibex falls over 2%

The major European equity indexes are ending the session lower. The biggest decliner is Spain’s Ibex which fell over 2% on the day.

The final numbers are showing:
  • German DAX, -0.93%
  • France’s CAC, -1.77%
  • UK’s FTSE 100, -1.09%
  • Spain’s Ibex, -2.14%
  • Italy’s FTSE MIB, -1.53%
in other markets as London/European traders look to exit:
  • spot gold is trading up $7 or 0.37% $1909.20
  • spot silver is up $0.16 or 0.66% at $24.44
  • WTI crude oil futures are up $0.96 or 2.49% $39.52

Major European indices close down sharply led by German Dax

  
Analysis, Global Indices

US stocks also falling sharply

The major European indices are closing the day sharply lower. Germany’s SAP warned of earnings declines going forward which hurt investor sentiment.  The German Dax closed down over -3.5%.   The sharp rise in Covid cases across Europe are also weighing on investor demand.  In the US, stocks are also faltering as well and are not helping overall sentiment..

The provisional closes are showing:

  • German DAX, -3.56%
  • France’s CAC, -1.9%
  • UK’s FTSE 100, -1.18%
  • Spain’s Ibex, -1.2%
  • Italy’s FTSE MIB, -1.6%
In the US market, the Dow industrial average is now down over 800 points or -2.88%. The S&P index is also down sharply. It is currently trading down 80.89 points or -2.34% at 3384.43. The NASDAQ index is down -2% at 11317.55.

Nikkei 225 closes lower by 0.70% at 23,474.27

  
Analysis, Global Indices

A softer day for Asian equities

Nikkei 22-10
Stocks in Asia are largely following the mood from Wall Street yesterday, as stimulus talks get dragged on again and hopes for a pre-election deal continue to fade. US futures being marked lower by ~0.5% also isn’t really helping with sentiment so far today.
The Hang Seng is seen closer to flat levels, erasing some of its earlier losses while the Shanghai Composite is down by 0.6% but also off lows seen earlier in the session.
In the major currencies space, the more cautious mood is seeing the dollar keep a slight advance across the board as it retraces some of the losses from yesterday.
The more interesting action in the bond market yesterday is meeting a bit of a check, with 10-year Treasury yields seen lower by 1.5 bps to 0.807% currently.
Go to top