Archives of “Global Indices” category

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Chinese equities close sharply lower to end the week

  
Analysis, Global Indices

CSI 300 index fell by 4.4% in trading today

Meanwhile, the Shanghai Composite index also fell by 3.9% but despite the sharp drop in trading today, the weekly performance isn’t that bad for Chinese equities.

On the week, the CSI 300 index is down by 0.9% and from a technical perspective it managed to avoid a key break of recent technical support @ 4,485.82:
CSI 300

Major European indices end the session mixed

  
Analysis, Global Indices
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Provisional closes for the European major indices

the European stock markets are closing for the day with mixed results. Germany, France, UK, and Spain are all trading within 0.11% of the Friday close.  Italy had the biggest move with decline of -0.60% or more. The major indices are closing well off the session highs as well.
The provisional closes are showing:
  • German DAX, +0.07%. At the high the index was up 0.87%
  • France’s CAC, -0.06%. At the high the index was up 0.93%
  • UK’s FTSE MIB, +0.11%. At the high the index was up 1.07%
  • Spain’s Ibex, -0.06%. At the high the index was up 0.70%
  • Italy’s FTSE MIB, -0.68%. At the high the index was up 0.44%

European indices end the session lower on the day

  
Analysis, Global Indices
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German DAX, -0.54%, UK’s FTSE 100 -0.96%

The major European indices are ending the day lower. The provisional closes are showing:

  • German DAX, -0.54%
  • France’s CAC, -1.28%
  • UK’s FTSE 100, -0.96%
  • Spain’s Ibex, -1.42%
  • Italy’s FTSE MIB, -0.74%
The 10 year yields showed meaningful moves to the downside. Italian yields fell the most at -5.7 basis points. German yields declined by -3.3 basis points
European yields are lowerIn other markets as London/European traders look to exit:
  • spot gold continues its move to the upside with a gain of $19.60 or 1.07% at $1861.50. Sobers doing even better with a $1.09 gain or 5.13% to $22.39.
  • WTI crude oil futures for September delivery are down $0.57 or -1.36% at $41.35. Inventory data confirmed the private data with a build of 4.892M barrels. The expectations was for a -2.2M draw.
In the US stock market the major indices are mixed:
  • S&P index is up 4.9 points or 0.15% at 3262.69
  • NASDAQ index is down -1 point or -0.1% at 10679.30
  • Dow industrial average is up 82 points or 0.31% at 26923.
In the forex market, the EUR is the strongest while the JPY is the weakest of the majors. The US dollar is down vs. all the major currencies with the exception of the JPY. It is near unchanged vs. the GBP and has recovered losses of around 90 basis points at the London morning session lows.

European shares end the session higher but off the highest levels.

  
Analysis, Global Indices
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The German Dax risse by 0.95%

The major European shares are ending the session higher. However, they are also closing near the lows for the day (and well of the highs for the day).

  • German DAX, +0.96%. The high reached +2.05%
  • France’s CAC, +0.18%. The high reached +1.57%
  • UK FTSE 100, +0.06%. The high reached +0.86%
  • Spain’s Ibex, +0.18%. The high reached +2.36%
  • Italy’s FTSE MIB, +0.42%. The high reached +2.48%
Meanwhile in the US, the major indices are mixed with the NASDAQ currently trading down -0.39% and near session lows. The S&P index is trading midrange at +0.56%. The Dow industrial average is trading near its highs at +1.14%.

European shares end higher on hopes for a EU recovery compromise

  
Analysis, Global Indices

German Dax up 1.1%. Highest level in 4 months

European shares are ending the session higher as hopes for a EU recovery compromise helped the buying sentiment. The German DAX moved up 1.1% and trades at the highest level in 4 months.
The provisional closes are showing:
  • German DAX, +1.1%
  • France’s CAC, +0.5%
  • UK’s FTSE 100, +0.5%
  • Spain’s Ibex, -0.2%
  • Italy’s FTSE MIB, +0.9%

European shares end the session mixed

  
Analysis, Global Indices
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France and Spain indices move lower

The European shares are ending the session with mixed results. France and Spain indices are lower. Germany, UK, Italy are trading higher.

The provisional closes are showing:
  • Germany Dax, +0.44%
  • France CAC, -0.36%
  • UK FTSE 100, +0.6%
  • Spain’s Ibex, -0.34%
  • Italy’s FTSE MIB, +0.2%
For the week, the indices closed higher:
  • German DAX, +2.3%
  • France’s CAC, +1.9%
  • UK’s FTSE 100, +3.15%
  • Spain’s Ibex, +1.8%
  • Italy’s FTSE MIB, +3.1%
In the European debt market, the benchmark 10 year yields are mostly and modestly higher. The exception is the Italian 10 year which is trading down -1.5 basis points.
European debt market
In other markets as European/London traders look toward the exits for the week:
  • spot gold is trading at $13.50 or 0.75% $1810.70. The high price extended to $1811.11 the low has reached $1795.96
  • WTI crude oil futures are trading down $0.27 or -0.66% of $40.48. The high for the August contract reached $40.90 while the low extended to $40.02. The September contract is currently trading down $0.27 or 0.66% at $40.66
In  the US equity market, the major indices are trading mixed. The Dow industrial average is down on the day while the S&P and NASDAQ index are currently trading in the black
  • S&P index is up 3.25 points or 0.10% at 3218.81
  • NASDAQ index is up 11.5 points or 0.11% at 10,485.25
  • Dow industrial average is trading down 43.12 points or -0.16% at 26691.40
In the US debt market the yields are trading near unchanged across the curve:
  • 2 year 0.143, -0.2 basis points
  • 5 year 0.278%, +0.3 basis points
  • 10 year 0.618%, +0.1 basis point
  • 30 year 1.314%, +0.6 basis points
A look at the strongest and weakest currencies at the close of the London session shows the CHF is the strongest and the GBP is the weakest.  The US dollar is mostly lower.

Nikkei 225 closes lower by 0.32% at 22,696.42

  
Analysis, Global Indices

Asian equities keep more mixed towards the end of the week

Nikkei 17-07

The spike in coronavirus cases in Japan isn’t quite helping with sentiment among Japanese stocks but the overall mood today is a tough one to read anything from.

The Hang Seng is up by 0.2% but the Shanghai Composite is down by 0.5% after a modest advance in the early stages today. Elsewhere, US futures are mildly higher but not really hinting at any firm direction in risk sentiment at the moment.
As such, major currencies also have little to work with to start European trading with dollar pairs mostly keeping in narrow ranges still. EUR/USD is at 1.1380, stuck within a 16 pips range as we look to get things underway in the session ahead.

European shares end the session with mixed results

  
Analysis, Global Indices
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Italy and Portugal indices move higher

the major European indices are ending the session with mixed results. Germany, France, UK and Spain show declines while Italy and Portugal eked out gains. The closes are showing:

  • German DAX, -0.43%
  • France’s CAC, -0.42%
  • UK’s FTSE 100, -0.62%
  • Spain’s Ibex, -0.2%
  • Italy’s FTSE MIB, +0.3%
  • Portugal’s PSI 20, +0.95%
Italy and Portugal indices move higher_
In the European debt market, benchmark 10 year yields fell across the board with UK yields down the most at -2.8 basis points.
European 10 year yieldsIn other markets as London/European traders look to exit:
  • spot gold $-4.25 or -0.23% $1806.05. The high for the day reached $1813.48. The low extended to $1802.97
  • WTI crude oil futures fell $0.19 or -0.46% to $41.01. It’s high price reached $41.18 while the low extended to $40.60. The September contract is currently down $0.21 or -0.51% of $41.19
In the forex market,
  • GBPUSD. The GBPUSD is trading at new session highs in the currently hourly bar. In the process, the price has moved back above its 200 and 100 hour moving average. That tilted the bias back to the upside in what has been an up and down market over the last 7 or so trading days. On the topside a trendline connecting highs from this we currently comes in at 1.2634. The high from yesterday reached 1.26487. The high for the week on Monday reached 1.26652.
  • EURUSD: The EURUSD moved higher in the London session after finding support buyers near the 38.2% retracement of the move up from the Friday low at 1.13759. The high price reached 1.1441. The high price from yesterday reached 1.14512. There is close support at 1.14223 area

Nikkei 225 closes lower by 0.76% at 22,770.36

  
Analysis, Global Indices
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A down day for Asian stocks

Nikkei 16-07

A poor day for Asian equities as profit-taking activity was the reason most alluded to for the drop after the Nikkei also touched a one-month high yesterday, not to mention the slump in Chinese equities as well.

Tokyo reporting a daily record of 280 new virus cases added to the softer tone in general too. The mood in US futures also isn’t helping, with E-minis seen down 0.4% currently.

The Hang Seng is down 1.1% while the Shanghai Composite is seeing losses of 2.3% now.
In the currencies space, this is seeing the dollar keep mildly firmer but nothing too significant as trading ranges remain relatively modest for the time being.

Nikkei 225 closes higher by 1.59% at 22,945.50

  
Analysis, Global Indices
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Japanese stocks boosted by more upbeat Wall Street sentiment

Nikkei 15-07

The late surge by US stocks overnight is helping to give Asian equities a decent lift in trading today, though Chinese and Hong Kong stocks are weighed down by US-China tensions after Trump removed Hong Kong’s special status earlier in the day.

The Hang Seng is seen at flat levels now after trading in the red earlier while the Shanghai Composite has pared some losses to be down by 0.2% currently.
Elsewhere, US futures are still keeping more upbeat with S&P 500 futures up by ~0.8%.
That is keeping the likes of the aussie and kiwi more underpinned ahead of European morning trade, with AUD/USD flirting with the 0.7000 handle while NZD/USD is trying to crack back above its key hourly moving averages at 0.6552-69.
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