German Dax was up 9% at the high. Closes up 0.2%.
Well…the European shares are ending the day higher. However that is only half the story. The other half of the story is that the major indices give up a big chunk of their gains from the highs.
The provisional numbers are showing:
- German DAX, +0.2%. The high for the day was up 9%
- France’s CAC, +1.4%. The high for the day was up 9.75%
- UK FTSE 100, +1.7%. The high for the day was up 8.76%
- Spain’s Ibex, +4.7%. The high price was up 11.73%
- Italy’s FTSE MIB rose 6.3% but retrace from a 17.8% gain
For the week, the major indices got creamed.
- German DAX, -20.01%
- France’s CAC, -20.3%
- UK’s FTSE 100, -17.6%. Worse since 2008.
- Spain’s Ibex, -21%
- Italy’s FTSE MIB -24%
How are the major European indices fairing for the year?
- German DAX, -30.32%
- France’s CAC, -31.42%
- UK’s FTSE 100, -29.4%
- Spain’s Ibex, -31.1%
- Italy’s FTSE MIB, -32.7%