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European shares end the day (and the week) with solid gains

  
Analysis, Global Indices
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Global hope on Brexit and a US/China deal

The major European indices are ending the day (and the week) with solid gains. The provisional closes are showing:
  • German DAX, up 2.7%. That is the best day cents January 4
  • France’s CAC, up 1.7%
  • UK’s FTSE, up 0.7%
  • Spain’s Ibex, up 1.7%
  • Italy’s FTSE MIB, up 1.8%
For the week, the major indices are also ending with decent games.  Provisional changes for the week are showing:
  • German DAX, +4.1%
  • France’s CAC, +3.2%
  • UK’s FTSE, +1.22%
  • Spain’s Ibex, +3.28%
  • Italy’s FTSE MIB, +3.1%

In the European debt market, the benchmark 10 year yields are mostly higher with UK yields soaring by 12.1 basis points on hopes for a Brexit deal.

UK yields have soared by 12.1 basis points today
Looking at the yield chart for the 10 year in the UK, the yield moved above its 100 day moving average today for the 1st time since little looks above in April and May (that failed).  The last extended time above the 100 day MA was back in November 2018 (at much higher levels).
The UK 10 year yield

European shares ended the session higher on the day

  
Analysis, Global Indices

US stocks keep gains and trade near highs

the European major indices ended the session today with gains, with France’s CAC and Spain’s Ibex having the largest gains (around 1.25%). THe UK FTSE laggged at 0.28%.

Meanwhile US shares remain higher but below their peaks. All 3 indices were up about 1% at the highs. They are currently between up 0.82% (for the Dow) and 0.88% (for the Nasdaq).
US stocks keep gains and trade near highs_In the European debt market, yields have soared higher with the UK yield up the most at 12.8 basis points on hopes for a successful Brexit deal. The German yield is up 7.9 basis points. France’s yields are up 7.6 basis points.
European yields are soaring higher in trading today

European indices down as Dax falls under 12000

  
Analysis, Global Indices

Europe down

Europe down 
  • Dax: -1.05%
  • UK FTSE: -0.13%
  • Euro Stoxx: -0.77%
  • France 40 (CAC): -0.74
  • IBEX:-1.00%
  • Italian FTSE:-0.94%

Brexit risk, US/China talks looking bleaker have all weighed on sentiment. Meanwhile, gold and silver up +0.60% and +0.50% respectively. GBPUSD approaching key support at 1.2200. The USDJPY yen sold off on risk off flows (JPY strength) through 107.00 and AUDJPY making its way down to 72.00 and key daily support.

European equity close: France leads a rebound but UK falls

  
Analysis, Global Indices
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Closing changes for the main bourses:

  • UK FTSE 100 -0.5%
  • French CAC +0.6%
  • Italy MIB +0.4%
  • Spain IBEX +0.2%
Germany was holiday today for the national day of unity.
I have been keeping a close eye on the CAC-40 this week because the reversal Tuesday was the first sign of global trouble. It was the leader today but the bounce still pales in comparison to the fall on Tues-Wed.
Closing changes for the main bourses:

European shares are beaten down. German DAX falls -2.5%. France’s CAC -2.9%

  
Analysis, Global Indices
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Ouch.  European shares take a beating.

The European major indices are closed and the provisional closes are not looking good. The major indices are all beaten down by 2%-3%  declines.
The provisional closes are showing:
  • German DAX, -2.5%
  • France’s CAC, -2.9%
  • UK’s FTSE, -3.2%
  • Spain’s Ibex, -2.7%
  • Italy’s FTSE MIB, -2.8%
In the European debt market, the benchmark 10 year yields are ending the session higher, but off the highest levels of the day.  Below is a snapshot of the current yields, changes and high low yields.
Ouch.  European shares take a beating.
US stocks are also down sharply and trading near lows.
  • S&P index, -1.91%
  • NASDAQ index, -1.75%
  • Dow industrial average, -2.0%

In other markets:

  • spot gold is surging and back above the $1500 level. The price is up $22.34 or 1.51% at $1501.50.
  • WTI crude oil futures is trading down $1.35 on expectations of slower growth. That is down 2.5% at $52.28. The inventory data showed a higher build then expectations today
In the forex, the JPY remains the strongest currency on flight to the relative safety of the JPY. The CAD has taken over as the weakest.  The USDCAD is now trading back above its 200 day moving average at 1.3288.

European shares in the day with modest gains

  
Analysis, Global Indices

German DAX little changed. France’s CAC Up 0.5%

European major indices are close for the day and ending with modest gains:

  • German DAX, +0.1%
  • France’s CAC, +0.5%
  • UK’s FTSE, -0.3%
  • Spain’s Ibex, +0.4%
  • Italy’s FTSE MIB unchanged
For the week, the major indices are ending with modest changes:
  • German DAX, unchanged
  • France’s CAC, +0.5%
  • UK’s FTSE, -0.3%
  • Spain’s Ibex, +0.4%
  • Italy’s FTSE MIB, +0.1%
In the benchmark 10 year note sector, yields are ending mostly lower with Italy the exception:
German DAX little changed. France's CAC Up 0.5%
In the forex market as London/European traders look to exit for the week, the JPY and USD are now the strongest currencies.   The weakest currency is the NZD.
The EURUSD, AUDUSD, NZDUSD and USDCHF are now near extremes for the day (higher USD).  The EURUSD has just fallen below the 1.1000 level.  The NZDUSD is trading two new four year lows.

Nikkei 225 closes higher by 0.16% at 22,079.09

  
Analysis, Global Indices
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Tokyo’s main index barely hangs on to gains in mixed trading day

Nikkei 20-09

It has been a sluggish session overall for Asian equities in general as the risk mood stays more subdued after seeing US stocks give back gains in overnight trading. China did cut its one-year LPR by 5 bps but it hardly is breathing life into equities on the session.

The Hang Seng index is flat while the Shanghai Composite is up by just 0.2% as investors appear to be more cautious still to wrap up the week. US futures are pretty much flat so that tells us that equities are still sidelined to begin European trading.
USD/JPY sits lower at 107.87 though as the yen keeps pace after gains from yesterday amid weaker Treasury yields to start the morning.

European shares are ending the session higher on the day

  
Analysis, Global Indices

German DAX, +0.5%. UK FTSE, +0.6%

The major European stock indices are ending the session higher on the day. The provisional closes are showing:

  • German DAX, +0.5%
  • France’s CAC, +0.6%
  • UK’s FTSE, +0.66%
  • Spain’s Ibex, +1.1%
  • Italy’s FTSE MIB, +0.82%
As  London/European traders look to exit, a snapshot of other markets are showing
  • Spot gold up $5.29 or 0.35% at $1499.30. The precious metal has been trading above and below the 1500 level for most of the New York session
  • WTI crude oil futures are up $0.45 or 0.77% at $58.56
In the US stock market, the major indices have pushed higher. The snapshot currently shows:
  • S&P index +10.53 points or 0.35% at 3017.36  The high reached 3021.99.  The high close for the S&P is up at 3025 area.
  • NASDAQ composite index is up 39.3 points or 0.48% at 8216.54. The high price extended 28237.43
  • The Dow industrial average is up 80.60 points or 0.31% at 27228
in the Forex market, the CHF remains the strongest of the majors but off the highs for the day. The AUD remains a weakest. The USD is still marginally lower. The greenback has fallen versus the CHF, JPY, CAD, EUR and is higher versus the AUD and NZD. It is near unchanged versus the GBP.
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