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European shares extend higher on global growth hopes

  
Analysis, Global Indices
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Euro Stoxx 600 it’s 4 year high. 5th straight day of gains

The European major stock indices are closed and extending higher on global growth hopes.
The Euro Stoxx 600 index is trading at 4-year highs and is up for the 5th straight day of gains.
The provisional closes for other indices are showing:
  • German DAX, +0.8%. The close is the highest level since February 2018
  • France’s CAC, +0.3%
  • UKs FTSE is ending the session flat
  • Spain’s Ibex, +0.4%
  • Italy’s FTSE MIB, +0.6%

Yields are also higher as traders in global debt markets are also hoping global economies will get a boost on more cooperative US China relations.

Euro Stoxx 600 it's 4 year high. 5th straight day of gains_

European shares marginally higher in trading today

  
Analysis, Global Indices

Spain’s Ibex down marginally. German Dax up 0.2%

The major European shares are closing the day mostly higher with the Spanish Ibex the exception. The provisional closes are showing:
  • German DAX, +0.2%
  • France’s CAC, +0.2%
  • UK’s FTSE, unchanged
  • Spain’s Ibex, -0.4%
  • Italy’s FTSE MIB, unchanged
In the European debt market, the benchmark 10 year yields are ending the session lower:
Spain's Ibex down marginally. German Dax up 0.2%_
In other markets, a snapshot is showing:
  • spot gold is up $5.10 or 0.35% at $1488.62
  • WTI crude oil futures are down $0.44 or -0.75% at $56.79
in the US stock market the major indices are currently trading mixed:
  • S&P index is up 1.2 points or 0.04% at 3075.80
  • NASDAQ index is still down -22.6 points or -0.27% at 8412.10
  • Dow is up 12.50 points or or 0.05% of 27505
In the forex market, the major indices remain bunched together with the JPY and NZD the strongest and the CAD the weakest.  The USD is a little higher overall with the largest gain vs the CAD and largest decline vs the JPY.

Euro Stoxx 600 trades at the highest level in nearly 2 years

  
Analysis, Global Indices

France, Germany and Italy reach 52 week highs

The Euro Stoxx 600 traded to the highest level in nearly 2 years. The high for the day reached 403.99.  France, Germany, and Italy all reached 52 week highs in trading today, with France trading at its highest level in 12 years.
France, Germany and Italy reach 52 week highs
The provisional closes are showing:
  • Euro Stoxx +1.1%
  • German DAX, +1.3%
  • France’s CAC, +1%. It hits it’s highest high in 12 years today
  • UK’s FTSE, +0.9%
  • Spain’s Ibex, +0.9%
  • Italy’s FTSE MIB, +1.6%
  • Portugal’s PSI 20, +1.7%
In the debt market, the benchmark 10 year yields are higher as well. Italy yields rose a scant 0.1 basis points, while UK yields increased by 6 basis points on the day.
European yields are higher

Nikkei 225 closes higher by 0.37% at 22,927.04

  
Analysis, Global Indices

Japanese stocks climb amid mixed mood in Asia

Nikkei 31-10

The Nikkei closes higher again today as investors continue to chase the 23,000 mark following gains in Wall St overnight. Apple and Facebook earnings also beat out expectations and that is helping out with the risk mood among equities as well.

The Hang Seng is trading 0.9% higher but the Shanghai Composite is down by 0.4% near session lows at the moment, as Chinese PMI data earlier in the day showed further signs of economic struggle.

The overall risk mood continues to hold more steady with US futures near flat levels while bond yields are slightly higher, more so on the short-end of the curve. USD/JPY remains a little weaker at 108.68 with dollar weakness at play there.

Major European indices end the session with mixed results

  
Analysis, Global Indices

Provisional closes for October 29, 2019

the major European stock indices are ending the session with mixed results.
  • German DAX, unchanged
  • France’s CAC, +0.1%
  • UK’s FTSE 100, -0.4%
  • Spain’s Ibex, -0.5%
  • Italy’s FTSE MIB, unchanged
In  the European debt market, the benchmark 10 year yields are ending lower on the day with declines between -0.8 basis points and -0.25 basis points

Provisional closes for October 29, 2019_
In other markets as London traders look to exit are showing:

  • Spot gold, $-3.10 or -0.21% at $1489.30. That is up from the intraday low of $1483.60, but below its high at $1495.34
  • WTI crude oil futures are trading near unchanged levels at $55.79.  The high reached $55.88. The low waas down at $54.61
In the US stock market, the markets are mixed:
  • The S&P index is up 4.74 points or 0.16% at 3044.30.  A close higher would be a new record close for the index. The high today at 3047.87 represents and all-time new intraday high for the index
  • The NASDAQ index remains in the red at -23.34 points or -0.28% at 8302.60. The high reached 8319.29. The low extended to 8275.68
  • The Dow is up 35 points or 0.13% 27125
IN the US debt market, the yield changes across the yield curve are minimal with changes of -0.3 bps to -0.9 bps across the curve.
US yields are marginally lower

Nikkei 225 closes higher by 0.47% at 22,974.13

  
Analysis, Global Indices

The Nikkei touches the 23,000 mark but ends the day just shy of that

Nikkei 29-10

Japanese stocks continue to inch higher on the week with the Nikkei a stone’s throw from a close above the 23,000 level now.

The mood among equities in the region is more mixed though with the Hang Seng and Shanghai Composite down by 0.4% and 0.5% respectively.
However, the overall risk mood is looking more steady with US futures up 0.1% after a record close for the S&P 500 overnight. That is helping to buoy sentiment in Asia for the most part, besides some worries about the Chinese economy.
Looking ahead, the more steady risk mood should keep yen pairs underpinned in the session ahead with USD/JPY lurking around the 109.00 handle as large expiries around 109.00-10 a potential factor at keeping price action in-check for now.
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