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rssEuropean Indices end lower on the day
Major indices played catch up from the US Friday declines
On Friday, the major European indices were closed due to the May 1 Labor Day holiday. US stocks fell sharply on the day. Today was a “catch up” for the major European indices (at least part of it).
The provisional closes are showing:
- German Dax -3.6%
- France’s CAC -4.4%
- UKs FTSE 100, -0.2% (the UK markets were open on Friday)
- Spain’s Ibex -4.5%
- Italy’s FTSE MIB, -3.0%
In the European debt market, benchmark 10 year yields are ending the session mixed with most countries yields in the middle of the trading ranges. Italian 10 year yields were sharply higher with the yield moving to 1.869%, but staged a rally into the close and is ending the session lower at 1.751%.
An Update :DJIA ,SPX500 ,NASAQ Composite ,Nikkei ,FTSE 100 ,CAC ,DAX ,Bovespa ,RTSI ,KSE 100 -Anirudh Sethi
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Nikkei 225 closes lower by 2.84% at 19,619.35
A rough day for Japanese stocks amid holidays elsewhere in Asia
It is very much light trading on the day, with markets in China, Hong Kong, and Singapore among those that are closed. The same will apply to most parts of Europe with only London being the notable center that is open for business in the session ahead.
In the major currencies space, the aussie and kiwi are still keeping on the defensive with the dollar trading more mixed against the rest of the bloc.
AUD/USD is down by 0.8% to 0.6460, backing further away from its 100-day moving average.
European major indices close near session lows
Early gains are erased
It is month-end and there has been pretty decent amount of volatility in the markets as London/European traders look to exit.
For the stock markets in Europe, they are ending the day/month at/or near the session lows. The final numbers are showing:
- German DAX, -2.22%
- France’s CAC, -2.12%
- UK’s FTSE 100, -3.50%
- Spain’s Ibex, -1.89%
- Italy’s FTSE MIB, -2.09%
For the month, it was a rebound month for the major indices:
- German DAX, +9.32%
- France’s CAC, +4.0%
- UK’s FTSE 100, +4.04%
- Spain’s Ibex, +2.02%
- Italy’s FTSE MIB, +3.75%
- German DAX, -18.02%
- France’s CAC, -23.52%
- UK’s FTSE 100, -21.76%
- Spain’s Ibex, -27.51%
- Italy’s FTSE MIB, -24.74%
Looking at the German DAX on the daily chart, the price high today was the highest level going back to the gap lower on March 6/9. The price also moved above the 50% retracement of the move down from the February high yesterday. However that break of the midpoint level could not be sustained and the price is closing below the 50% level.
European shares end with solid gains as risk on sentiment increases
Hopes f him him him rom Gilead news propel European shares higher.
European indices are ending the session with solid gains on hopes from the Gilead remdesivir drug,
- German DAX, +3.0%
- France’s CAC, +2.32%
- UK’s FTSE 100, +2.77%
- Spain’s Ibex, +3.24%
In the European 10 year note sector are mostly lower with the exception of Italy (their credit rating was lowered by Fitch after the close yesterday)
Major European indices close higher on the day
Give up some of the gains for the day but still close solidly higher
The major European indices are ending the day with gains. However, some of those gains were eroded.
The provisional closes are showing:
- German Dax, +1.25%. The high reached +2.23%
- France’s CAC, +1.32%. The high reached +1.15%
- UKs FTSE 100 +1.85%. The high reached +2.24%
- Spain’s IBex +1.30%. The high reached +1.87%
- Italy’s FTSE MIB +1.8%, The high reached +3.23%
European shares end the day with solid gains
German DAX, +3.13%. France’s CAC, +2.3%
the major European indices are ending the day with gains across the board led by the German Dax up 3.13%. The German DAX, France’s CAC, and Italy’s FTSE MIB are closing near highs for the day.
Below are the percentage ranges for major indices in both the US and Europe. The US stock indices are also trading at session highs with the session.
In the European debt market, the the benchmark 10 year yields were mixed with Germany and UK yields up while France, Spain, Italy, and Portugal yields lower.
In other markets:- spot gold is trading down $18.13 or minus was 1.06% at $1711.32
- WTI crude oil futures (June contract )are sharply lower with the price down $4.75 or -28% at $12.19
European equity close: More losses in a tough week
Closing changes for the main European bourses:
- UK FTSE 100 -1.3%
- German DAX -1.6%
- French CAC -1.3%
- Spain IBEX -1.3%
- Italy MIB -0.7%
On the week:
- UK FTSE 100 -0.4%
- German DAX -2.7%
- French CAC -2.2%
- Spain IBEX -3.6%
- Italy MIB -1.0%
There is a similar picture in many equity markets of consolidation and uncertainty. The lack of urgency for more stimulus on the fiscal side in Europe is going to be a drag. Next week the ECB will roll out something new but I fear it will underwhelm because the toolbox is limited.
Nikkei 225 closes lower by 0.86% at 19,262.00
Asian equities softer to wrap up the week
The Hang Seng is down by 0.5% while the Shanghai Composite is down around 1% so far today. On the week, the Nikkei finds itself down by just over 3%.
In the currencies space, the dollar is holding its ground as the aussie and kiwi retrace gains from yesterday and are both keeping lower to start the European morning.