Archives of “Global Indices” category

rss

European indices close lower once again

  
Analysis, Global Indices

Major indices down for the 4th consecutive day

The European indices are closing lower once again with today’s declines accelerating the fall. The indices have been down each day this week after peaking on Monday but failing to extend higher. The provisional closes are showing:

  • German DAX, -4.0%
  • France’s CAC, -4.3%
  • UK’s FTSE 100, -3.7%
  • Spain’s Ibex, -5.2%
  • Italy’s FTSE MIB, -4.3%
In the benchmark 10 year yields investors have been buyers across all countries today. The German 10 year note is down -8.5 basis points and is seen the most buying interest.
European yields are lower

Nikkei 225 closes lower by 2.82% at 22,472.91

  
Analysis, Global Indices

Asian stocks tumble amid the risk-off mood today

Nikkei 11-06

Risk is on the defensive following the Fed decision yesterday, with US futures down by over 1.8% currently and that is dragging the overall mood in the market today.

The Hang Seng is down by 1.7% while the Shanghai Composite is down by 0.6%, with the Kospi and STI also seeing losses of over 2% and 3% respectively on the session.
Meanwhile, bonds are rallying with 10-year Treasury yields dragged all the way down to 0.71% and the dollar is holding firmer across the board alongside the yen.
AUD/USD is seen down by over 1% to 0.6927 currently, retracing lower after resistance around 0.7000 and the December high at 0.7032 continues to hold.
There’s chatter of the Fed serving a dire outlook to markets and fears of a second wave of infections in the US weighing on the risk mood here, but I’d argue it is more to do with the Fed not really goosing the market further despite not removing the punch bowl.

Major European close lower for the 2nd consecutive day

  
Analysis, Global Indices

German DAX, -0.5%. France’s CAC, -0.6%

The major European indices are closing lower. The indices have been lower for 3 consecutive days now.
The provisional closes are showing:
  • German DAX, -0.5%
  • France’s CAC, -0.6%
  • UK’s FTSE 100, -0.1%
  • Spain’s Ibex, -0.8%
  • Italy’s FTSE MIB, -0.6%
In the 10 year note sector the benchmark 10 year yields are mixed with flows into the “safer” countries including Germany, France and the UK. Investors are shunning the risk year Spain, Italy, and Portugal
German DAX, -0.5%. France's CAC, -0.6%_

European indices end the day with declines

  
Analysis, Global Indices
#  #  #  #  #

German DAX, -1.4%

The major European indices are ending the day with declines. A look at the provisional closes shows:

  • German DAX, -1.4%
  • France’s CAC, -1.5%
  • UK’s FTSE 100, -2.1%
  • Spain’s Ibex, -0.7%
  • Italy’s FTSE MIB, -1.3%
  • Portugal PSI 20, -1.63%
In the European debt market, the benchmark yields are moving higher, with investors shunning the risk year countries including Spain, Italy, and Portugal. France 10 year yields remain above the 0.0% level at 0.072%.

European equity markets finish the week with gains greater than 10%

  
Analysis, Global Indices
#  #  #  #  #

Massive week for European stock markets

Closing changes for the main bourses:
  • German DAX +3.4%
  • UK FTSE 100 +2.2%
  • Italy MIB +2.7%
  • French CAC +3.5%
  • Spain IBEX +4.2%
On the week:
  • German DAX +9.1%
  • UK FTSE 100 +6.6%
  • Italy MIB +10.9%
  • French CAC +10.4%
  • Spain IBEX +10.9%
When tack on a 2% rally in EUR/USD the gains look even better. With gains like this you can see why money is flowing into the euro.
The run in Italian stocks has been spectacular:
Italy MIB chart

Major European indices close with solid gains once again

  
Analysis, Global Indices

German Dax up 3.88%

The major European indices closed higher for the 3rd day in a row this week. The German DAX (which was close on Monday but which rose over 3.5% yesterday) tacked on 3.88% in trading today to lead the charge.
The other indices also rose rather nicely.  Below are the percentage changes in percentage ranges for the major indices.
Meanwhile in the US, the gains are more modest with the Dow industrial average leading the way at +1.6%.
Not only is there a rotation that seems to be taking place into the European indices (the German DAX is still down -5.75% on the year, France’s CAC is down -15.99% and the UK FTSE is down -15.38%), but that rotation is occurring in the US market as well. The Dow industrial average is still down over -8.35% on the year, while the NASDAQ is up 7.71%. Traders seem to be buying cheap in hopes of a return to normal

European equity close: Another day of gains

  
Analysis, Global Indices

Closing changes for the main European bourses:

  • UK FTSE 100 +1.6%
  • French CAC +1.5%
  • German DAX – closed for holiday
  • Italy MIB – +1.8%
  • Spain IBEX +1.5%
If you’re bullish on the global recovery from the virus, there is a compelling case to shift money to European equities from US equities on valuation. The euro is consolidating today but it’s still comfortably above 1.10.
Go to top