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European shares end the session with strong gains

  
Analysis, Global Indices

German DAX surges by 5.6%

the major European indices have gotten a big boost to the upside with help late in the day by the German Franco proposed reconstruction plan.
The numbers are showing:
  • German DAX, +5.67%
  • France’s CAC, +5.25%
  • UK’s FTSE, +4.3%
  • Spain’s Ibex, +4.5%
  • Italy’s FTSE MIB +3.32%
  • Portugal’s PSI 20+4.4%
All indices are closing near highs for the day.
In the European debt market, yields were mixed as investors shun the safer countries i.e. Germany, France, UK, and poured money into the riskier (risk on) countries led by Italy with a -19 basis point decline.
German DAX surges by 5.6%
In other markets as London/European traders look to exit:
  • spot gold has reversed sharply lower and currently trades down $9.10 or -0.52% at $1734.50
  • WTI crude oil futures are rising sharply with the July contract up $3 or 10.09 percent at $32.44
In the forex, the US dollar has moved sharply lower in the New York morning session. The JPY remains the weakest of the majors as JPY pairs soar on risk on sentiment. The NZD and the AUD continues their run to the upside, and are the strongest of the majors.  The NZDJPY is up near 2% on the day and is the biggest mover the day.

European shares end the session with declines

  
Analysis, Global Indices
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German DAX -2.1%. France’s CAC down -1.9%

The major European indices are ending the session with declines.
  • German DAX, -2.0%
  • France’s CAC, -1.9%
  • UK’s FTSE 100, -2.8%
  • Spain’s Ibex, -2.7%
  • Italy’s FTSE MIB, -1.9%
  • Portugal’s PSI 20, -2.9%
in the European debt market, the benchmark 10 year yields are ending the session mixed. Germany and UK yields are down marginally (-1 basis point and -0.3 basis points respectively). Italian yields rose 1.7 basis points despite ECB’s Villeroy’s comment that yields and spreads do matter to the ECB.   Portugal 10 year yields are up 2.2% as well.

Nikkei 225 closes lower by 0.12% at 20,366.48

  
Analysis, Global Indices

The Nikkei closes a tad lower, but off earlier lows at least

Nikkei

The same applies to most Asian equities this morning, after softer tones prevailed in the early stages before stocks recouped some losses late in the day. This comes as US futures have also trimmed earlier losses of 0.8% to around 0.4% currently.

Elsewhere, the Hang Seng is down by 1.4% while the Shanghai Composite is down by 0.2% ahead of the closing stages today.
The yen is still leading the major currencies space, with USD/JPY down by 0.2% to 107.43.

European shares end the day with gains. Changes for the week are mixed.

  
Analysis, Global Indices

German Dax up 1.4%.

The European major indices are ending the day with gains.
The provisional closes are showing:
  • German DAX, +1.4%
  • France’s CAC, +1.1%
  • UK’s FTSE 100, +1.4%
  • Spain’s Ibex, +0.6%
  • Italy’s FTSE MIB, +1%
For the week, the major indices were mixed:
  • German DAX, +0.4%
  • France’s CAC -0.5%
  • UK’s FTSE 100, +0.6%
  • Spain’s Ibex, -2.1%
  • Italy’s FTSE MIB, -1.5%

Nikkei 225 closes higher by 2.56% at 20,179.09

  
Analysis, Global Indices
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Asian stocks rally to close out the week

Nikkei 08-05
It is a solid end to the trading week for Asian equities, with the Nikkei leading the charge after US stocks posted a strong performance in overnight trading. Some optimistic tones on the US-China trade rhetoric are also helping a little with sentiment on the day.
The Hang Seng is up by 1.1% while the Shanghai Composite is up by 0.9% currently.
All of this is translating into a softer dollar and yen in the currencies space, with the aussie and kiwi benefiting from the movement so far today. AUD/USD is up by 0.5% to 0.6530.

Nikkei 225 closes higher by 0.28% at 19,674.77

  
Analysis, Global Indices

Japanese stocks trade more tepidly upon returning from the holidays

Nikkei 07-05
The lack of significant direction in the Nikkei exemplifies the mixed market mood in the equities space since the start of the week. Asian stocks gained yesterday, only to give that back today with the Hang Seng down 0.7% and Shanghai Composite down 0.2% currently.
Despite the softer tones in Asia, US futures are keeping higher still to start the session with S&P 500 futures up by 0.6% to start the European morning. That said, early gains may not necessarily hold up if trading sentiment yesterday is anything to go by.
In the currencies space, the aussie and kiwi are mildly boosted while the dollar is trading more mixed across the board to start the session. The yen has given up some early gains though, with USD/JPY rising back to 106.30 after having hit a low of 105.99 earlier in the day.

European shares end the session with solid gains

  
Analysis, Global Indices

Shrugs off German court news

The German courts didn’t necessarily say the ECB QE measures could not be done, but they do want more information to justify their actions.  The European markets are shrugging off the decision and closing higher on the day:
  • German DAX, +2.5%
  • France’s CAC, +2.3%
  • UK’s FTSE 100, +1.7%
  • Spain’s Ibex, +1.3%
  • Italy’s FTSE MIB, +1.73%
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