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Major European indices end with mixed results to start the trading week

  
Analysis, Global Indices

German DAX lower.

The major European indices are ending the day with mixed results to start the trading week. The German DAX and UK FTSE are lower on the day. The other indices are marginally higher.

A snapshot of the provisional closes are showing:
  • German DAX , -0.4%
  • France’s CAC, +0.1%
  • UK FTSE 100, -0.4%
  • Spain’s Ibex, +0.15%
  • Italy’s FTSE MIB, -0.1%
In the European debt market, the benchmark 10 year yields are ending with mixed results. UK and German yields are down marginally while the other major countries are showing gains. Investors are shunning Italian 10 year debt with a rise of 6.5 basis points on the day.
German DAX lower.

Nikkei 225 starts the week on a firmer note, erases losses for the year

  
Analysis, Global Indices

Asian equities mixed after Chinese Q3 GDP data earlier

Nikkei 19-10
Japanese stocks are tracking US futures more closely, as the Nikkei closes up by over 1% to post its strongest daily close since February. S&P 500 futures are seen up by 0.6% on stimulus hopes so that is feeding into the more positive risk vibes for now.
The close also sees the Nikkei erase its losses for the year, now up by 0.06% in 2020.
Elsewhere, the Hang Seng is up by 0.6% but mainland Chinese equities are lower with the Shanghai Composite down 0.5% following China Q3 growth numbers earlier.
The risk mood is tilted slightly towards the more optimistic side ahead of European trading but hopes for a pre-election stimulus is almost certainly going to fall flat and that might temper with the risk mood in the coming sessions, so just be mindful of that.

Eurostoxx futures +0.7% in early European trading

  
  Global Indices
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A bit of catch-up play in early trades

  • German DAX futures +0.6%
  • UK FTSE futures +0.8%
  • Spanish IBEX futures +0.4%
European indices close the day near the lows yesterday, down by over 2% across the board, missing out on the late recovery in US equities towards the latter stages.
Hence, the gains here are largely due to some catch-up play and belies the more tepid and cautious risk mood to kick start the session.
US futures aren’t doing a whole lot, with S&P 500 and Nasdaq futures keeping at flat levels at the moment. Major currencies are also mostly little change besides some mild strength in the yen, with AUD/USD seen a little weaker under its 100-day moving average.

Nikkei 225 closes lower by 0.41% at 23,410.63

  
Analysis, Global Indices

A mixed day for Asian equities

Nikkei 16-10
Japanese stocks slumped to close the week, following the softer mood in Wall Street yesterday as US futures also keep more tepid in trading so far today.
But the Hang Seng is up by 1%, recouping early losses as Alibaba shares rebound strongly in anticipation of the Ant Group IPO, while Chinese equities keep more flat.
The overall risk mood remains more tepid and cautious, after having seen the strong wave of risk aversion early on yesterday countered by a late recovery in US stocks.
USD/JPY is keeping lower around 105.20-25 for the time being though but large expiries seen at 105.00 may well keep price action stuck ahead of North American trading.

Eurostoxx futures -0.8% in early European trading

  
Analysis, Global Indices

Softer tones in early trades today

  • German DAX futures -0.8%
  • UK FTSE futures -0.6%
  • Spanish IBEX futures -0.7%
European stocks ended the day more mixed yesterday but with US equities and futures marked lower, it is pointing to some softness as we look to start the session. S&P 500 futures are down ~0.2% while Nasdaq futures are down ~0.5% currently.
Just be mindful of the more defensive risk tone as we get things underway, as that may lend some light bids into the likes of the yen and dollar if the flows gain more traction.
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