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European equity markets finish the week with gains greater than 10%

  
Analysis, Global Indices
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Massive week for European stock markets

Closing changes for the main bourses:
  • German DAX +3.4%
  • UK FTSE 100 +2.2%
  • Italy MIB +2.7%
  • French CAC +3.5%
  • Spain IBEX +4.2%
On the week:
  • German DAX +9.1%
  • UK FTSE 100 +6.6%
  • Italy MIB +10.9%
  • French CAC +10.4%
  • Spain IBEX +10.9%
When tack on a 2% rally in EUR/USD the gains look even better. With gains like this you can see why money is flowing into the euro.
The run in Italian stocks has been spectacular:
Italy MIB chart

Eurostoxx futures +1.1% in early European trading

  
Analysis, Global Indices
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  • German DAX futures +1.0%
  • UK FTSE futures +2.4%
  • Spanish IBEX futures +1.0%
This follows a round of solid gains across the board to start the week yesterday, in which we saw the DAX starting to break out to fresh highs in nearly two months:
DAX

European major bourses are closing lower on the day

  
Analysis, Global Indices
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German DAX -1.0%. UK FTSE, -0.9%

The major European bourses are closing lower on the day.  Global concerns about the impact of coronavirus have sapped the energy from the stock market.
The provisional closes are showing:
  • German DAX, -1.0%
  • France’s CAC, -0.7%
  • UK’s FTSE 100, -0.9%
  • Spain’s Ibex, -0.6%
  • Italy’s FTSE MIB is trading near unchanged
In the European benchmark 10 year debt sector, yields are trading lower on the day. The Italian yields are down the most at -9.3 basis points. The others countries yields are down around 5 basis points each. Below are the basis point changes as well as the high and low yields trading today:
German DAX -1.0%. UK FTSE, -0.9%_

European shares get a lift in trading today

  
Analysis, Global Indices
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Spain’s Ibex is the exception as they sort through the political uncertainty

The major European stock indices are ending the day higher. They got a boost from the Trump administration saying tariffs on European auto imports would be delayed 6 months.
The provisional closes are showing:
  • German DAX, +0.75%
  • France’s CAC, +0.58%
  • UK’s FTSE 100, +0.65%
  • Spain’s Ibex, -0.8%
  • Italy’s FTSE MIB, +1.24%
  • Portugal’s PSI 20, +0.18%

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 equity close: Solid close to wrap up a great week

  
Analysis, Global Indices
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Closing changes for the main European equities

  • UK FTSE 100 +0.4%
  • German DAX +0.6%
  • French CAC +0.3%
  • Italy MIB +0.4%
  • Spain IBEX +0.9%
On the week:
  • UK FTSE 100 +1.3%
  • German DAX +2.3%
  • French CAC +1.1%
  • Italy MIB +1.1%
  • Spain IBEX +1.7%
Given the gains in the euro and (especially) the pound on the week, the performance was particularly impressive.
The FTSE 100 is right at the 55-day moving average:
Closing changes for the main European equities

European equity close: Italy leads the slump on election worries

  
Analysis, Global Indices
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Closing changes for the main European bourses:

  • UK FTSE 100 -0.5%
  • German DAX -1.3%
  • French CAC 40 -1.1%
  • Italy MIB -2.5%
  • Spain IBEX -1.2%
On the week:
  • UK FTSE 100 -2.3%
  • German DAX -1.5%
  • French CAC 40 -0.8%
  • Italy MIB -3.5%
  • Spain IBEX -1.7%

It was a rough week for European stocks but it’s not as quite as bad as it looks (in dollar terms at least) because the euro made some headway. Still, too many of the numbers that have been coming out of Europe have been pointing in the wrong direction.

European shares close with gains

  
Analysis, Global Indices
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10 year yields are lower

The major European indices are ending the day with modest gains. The provisional closes are showing:
  • German DAX, +0.1%
  • France’s CAC, +0.2%
  • UK’s FTSE, +0.9%
  • Spain’s Ibex, +0.3%
  • Italy’s FTSE MIB, +0.65%
In the 10 year benchmark note sector, yields are lower with Italy and UK yields down sharply. The UK PMI construction data was much weaker than expectations and BOE Carney also came out with dovish comments in the NY morning session.
10 year yields are lower
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