Archives of “Global Indices” category

rss

European shares end the day with gains. How did you do?

  
Analysis, Global Indices

German Dax up 1%. UK FTSE up 0.7%

The major indices in Europe are ending the day higher.
The provisional closes are showing:
  • German Dax, up 1.09%
  • France’s CAC up 0.93%
  • UK FTSE up 0.43%
  • Spain’s Ibex up 0.56%
  • Italy’s FTSE MIB up 0.59%
Not only is it end of day, but also the end of week, end of month and 2Q. How did the major European indices perform in the month, quarter, and might as well add the year too.
For the week,
  • German DAX, +0.48%
  • France’s CAC, +0.2%
  • UK’s FTSE, +0.24%
  • Spain’s Ibex, -0.3%
  • Italy’s FTSE MIB, -0.72%
For the month, the major European shares have solid gains:
  • German DAX, +5.7%
  •  France’s CAC, +6.3%
  • UK’s FTSE, +3.7%
  • Spain’s Ibex, +2.3%
  • Italy’s FTSE MIB, +7.2%
It is quarter end. the indices were higher with the exception of Spain and Italy which declined modestly
  • German DAX, +7.57%
  • France’s CAC, +3.52%
  • UK’s FTSE, +2.0%
  • Spain’s Ibex, -0.4%
  • Italy’s FTSE MIB, -0.2%
Finally, for the year, the YTD numbers are showing solid gains:
  • Germany’s DAX, +17.42%
  • France’s, +17.09%
  • UK’s FTSE, +10.37%
  • Spain’s Ibex, +7.72%
  • Italy’s FTSE MIB, +15.88%
How does the YTD compare to the US?
  • Dow, up 14.01%
  • S&P up 17.1%
  • Nasdaq +20.54.
I can’t say my returns have been as stellar, but I gotta think that there are a lot of people, who may be underinvested in equities this year.  As a result, if not all-in, that likely lessens the returns relative to the averages.
Am I right? How are you doing?

How will the Fed react if US and China reach a trade truce this weekend?

  
Analysis, Economy, Global Indices
#  #

A trade truce between US and China will be good for risk assets but does that mean the Fed will shelve its rate cut plans?

WIRP US 28-06

Although risk assets will steal the focus in the aftermath of the Trump-Xi meeting tomorrow, the dollar and the Fed are likely to be the more talked about topics in the coming weeks with the next FOMC meeting scheduled for 31 July.
A 25 bps rate cut is all but a given at this point but markets are still seeing a 22% probability that the Fed may cut rates by 50 bps, according to Fed fund futures.
But if US and China are able to achieve a trade truce this weekend, which I reckon they will find some form of agreement to resume talks at the very least, it puts the Fed in an interesting spot ahead of their July meeting.
Final Q1 GDP data yesterday gave little concerns for the Fed to be immediately cutting rates and the revised uptick in PCE is also a welcome sign on the inflation front. And if trade talks find some limited progress in the near-term, it’ll be very interesting to see how they would phrase their decision in cutting rates in July.

(more…)

Nikkei 225 closes lower by 0.29% at 21,275.92

  
Analysis, Global Indices

Tokyo’s main index falls as Asian equities drop ahead of the Trump-Xi meeting

Nikkei 28-06

Asian stocks are displaying more cautious sentiment to wrap up the week, with the focus in markets today being solely on the Trump-Xi meeting that will take place tomorrow. Chinese equities are down by nearly 1% but I reckon month-end flows may have something to do with that – some light profit taking before tomorrow.

For the month of June, the Nikkei ends 3.3% higher while the Hang Seng index is currently up by 5.7% and the CSI 300 index is posting gains of 5.0%.
As for trading sentiment today, the risk mood is much more measured and flat with US and European futures near unchanged levels as we begin the session. USD/JPY sits a little lower at 107.70 now but it’s not really saying much about direction to start the day.

Eurostoxx futures +0.3% in early European trading

  
Analysis, Global Indices

The more positive vibes carry over to Europe in early trades

  • German DAX futures +0.4%
  • French CAC 40 futures +0.3%
  • UK FTSE futures +0.2%
This mainly mirrors sentiment seen in US equity futures, which are up by about 0.3% as we begin the session. Markets are feeling a bit more upbeat on US-China trade talks but the catch here is that we’ll have to wait until the weekend to find out how things go between Trump and Xi in Osaka.
As such, I reckon markets will still be exude some hints of caution as we look to wrap up the week over the next two days so don’t hold your breath if you’re counting on a risk-on rally before the weekend – barring any major headlines to come before then that is.

European shares end mostly lower

  
Analysis, Global Indices

Italy down -0.73%. German Dax down 0.3%. UK FTSE up 0.1%

The major European indices are ending mostly lower. The UK FTSE is bucking the trend with a modest gain.
The provisional closes are showing:
  • German DAX, -0.3%
  • France’s CAC, unchanged
  • UK’s FTSE, +0.1%
  • Spain’s Ibex, -1.1%
  • Italy’s FTSE MIB, -0.73%
In the benchmark 10 year notes, yields are mostly lower. The exception is the Italian BTP which is higher by 0.4 bps (it was higher earlier).  The highs and lows, current and changes are outlined in the table below.  NOTE that France’s 10 year dipped below the 0.0% level (currently at -0.006%.
Italy down -0.73%. German Dax down 0.3%. UK FTSE up 0.1%In other markets as London/European traders look to exit are showing:
  • spot gold, plus $8.20 or 0.58% at $1427.83
  • WTI crude oil futures are up $.23 or 0.40% at $58.13
  • Bticoin on Coinbase is up $508 and $11,361
  • S&P indexes down 10.34 points or my 0.35% at 2935.05
  • NASDAQ index is down 53 points or 0.67% at 7952.30
  • Dow is down 44 pointers -0.17% at 26683
US yields are moving lower with the 5-year down -3.3 basis points.
US yields are lower on the day

In the Forex market the NZD remains the strongest of the major currencies, the GBP remains the weakest. The USD is lower as well with small gains vs the GBP, EUR and CHF.

European shares and mostly lower

  
Analysis, Global Indices

UK’s FTSE the exception today

  • German DAX, -0.53%
  • France’s CAC, -0.12%
  • UK’s FTSE, +0.12%
  • Spain’s Ibex, -0.38%
  • Italy’s FTSE MIB, -0.49%
  • Portugal’s PSI 20, -0.81%

In the benchmark 10 year note sector, yields are ending mostly lower (Italy trades with a small rise in yields). France’s 10 year dipped below the 0.0% level last week, but recovered. Today, the low yield reached 0.016% before rising modestly into the close (to 0.023%).

European 10 year yieldsIN the forex market as London/European traders look to exit, the AUD is still the strongest and getting stronger since the US open). The USD has been overtaken by the JPY and GBP as the weakest of the majors on the day. The GBPUSD reached the highs from June (and peaked a little above those levels) but failed. The price rotated back down.

European shares end the day mixed

  
Analysis, Global Indices

Some up and some down to end the trading week

The European markets are closed and the major indices are ending the week with mixed results today.
The numbers are showing:
  • German DAX, -0.13%
  • France’s CAC, -0.13%
  • UK’s FTSE, -0.23%
  • Spain’s Ibex, unchanged
  • Italy’s FTSE MIB, +0.14%

For the week, the major indices are ending higher:

  • German DAX, +2.01%
  • France’s CAC, +2.99%
  • UK’s FTSE, +0.84%
  • Spain’s Ibex, +0.17%
  • Italy’s FTSE MIB, +3.77%
Go to top