UK FTSE outperforms

The major European indices are closing higher. However, most are closing near their session lows. The one exception is the UK FTSE which has the largest gain and closed near mid range.

• German DAX, +0.5% after trading as high as 1.88%
• France’s CAC, +0.8% after trading as high as +2.07%
• UK’s FTSE 100, up 1.3%, after trading as high as 2.49%
• Spain’s Ibex, +0.4% after trading as high as 1.99%
• Italy’s FTSE MIB, is up 0.3% after trading as high as 1.78%

Benchmark 10 year yields close mixed with UK yields up 1.8 basis points . Italian yields fell by -1.8 basis points.

In other markets as London/European traders head for the exits:

• spot gold is continuing the tumble lower (following the clues from the higher USD) and trades down $-33.00 or -1.77% at $1866.48.
• Spot silver is also sharply lower by $1.35 or -5.55% to $23.04
• WTI crude oil futures are up $0.22 at $40.02

German Dax up 0.4%. France’s CAC unchanged

The European shares are closing with mixed results. The provisional closes are showing:

• German DAX, +0.4%
• France’s CAC, unchanged
• UK’s FTSE 100, +0.7%
• Spain’s Ibex, -0.4%
• Italy’s FTSE MIB, +0.80%

In the European debt market, the benchmark 10 year yields are ending the session mixed as well. Germany, France, and UK yields are higher, while Spain, Italy, and Portugal yields are lower.

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

• spot gold is down $13.75 or -0.72% $1899.20
• spot silver is down $0.37 or -1.53% at $24.34
• WTI crude oil futures are trading up $0.15 or 0.3% at $39.46

In the forex market, the USD has taken the lead and is the strongest of the major currencies (see the strongest and weakest from the start of the North American session by clicking here). The GBP and AUD are the weakest.  For the GBPUSD, the pair has moved back toward its 100 and 200 day moving average is 1.2720 area. The price is just below that level as I type at 1.2716.

Closing changes for the main European bourses

• DAX -4.6%
• UK FTSE 100 -3.5%
• French CAC -3.9%
• Italy MIB -3.6%
• Spain IBEX -3.6%

This is an ugly-looking candle but German stocks still haven’t given back the August gains.

German DAX tries to move back to positive on the year, but fall short this week

The major European indices are ending the session lower. The declines the downside are being led by Spain’s Ibex which fell around 2%. Madrid is enacting mobility restrictions on fears of Covid resurfacing. The German DAX tried to move back positive for the year but fell short with today’s declines.

German DAX, -0.2%. UK’s FTSE 100, -0.3%. France’s CAC, -0.5%

The major European indices are closing lower, but well off there lowest levels for the day.

German DAX up marginally. France’s CAC flat.

The European major stock indices are close for the day. The results are mixed. The provisional closes are showing:

• German DAX +0.1%
• France’s CAC, flat
• UK’s FTSE 100 -0.4%
• Spain’s Ibex, +0.80%
• Italy’s FTSE MIB -0.3%

In the European debt market, the benchmark 10 year yields are lower with German DAX yields down -0.5 basis points while Italian yields are down 3.0 basis points.

In the forex, the EUR the has taken over as the weakest of the majors from the USD. The GBP remains the strongest.

UK FTSE 100 leads the way with a 1.6% gain

The major European indices are ending the session higher with varying results. The UK FTSE 100 is leading the way with a 1.6% gain. The German DAX lacks behind with a 0.2% gain. The provisional closes are showing:

Asian equities brush off the softer mood in Wall Street yesterday

Closing changes for the main European bourses: