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European equity close: Soft start to the new month

  
Analysis, Global Indices
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Rough week for equity markets:

  • UK FTSE 100 -1.0%
  • German DAX -0.9%
  • French CAC -0.4%
  • Spain IBEX +0.2%
  • Italy MIB -0.7%
On the week:
  • UK FTSE 100 -0.3%
  • German DAX -2.3%
  • French CAC –1.8
  • Spain IBEX -0.9%
  • Italy MIB -1.3%
The good news is that European equities finished off the lows and now US stocks are beginning to run to the upside. Here’s a look at the daily DAX and it shows how we broke the summer lows earlier today before closing back above them.
German DAX

Major European indices are closing the day in the red. Down for the month.

  
  Analysis
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German Dax down -0.4%.

The major European indices are closing the day (and the month) in the red.

A snapshot of the provisional closes shows:
  • German DAX, -0.4%
  • France’s CAC, -0.3%
  • UK’s FTSE 100, -0.4%
  • Spain’s ibex -0.6%
  • Italy’s FTSE MIB unchanged
For the month, the major indices are also closing lower:
  • German DAX, -3.3%
  • France’s CAC -2.1%
  • UK’s FTSE 100, -0.35%
  • Spain’s ibex, -0.23%
  • Italy’s FTSE MIB -1.0%
A look at other markets as the London/European traders look to exit for the day and say goodbye to the month of September shows:
  • Spot gold up $35.75 or 2.07% at $1760.70. The move to the upside has been supported by a lower dollar today
  • Spot silver is also up strongly by $0.58 or 2.76% at $22.10
  • WTI crude oil futures are up $0.36 or 0.45% $75.20
  • Bitcoin is up $79 and $43,254

Major European indices end the day with mixed results.

  
Analysis, Global Indices
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A good week for European equities as they benefit from flow of funds

The major European indices are ending the week with mixed results.  The German Dax broke its four day streak that also saw new all time highs being made.
The provisional closes are showing:
  • German DAX, -0.5%
  • France’s CAC, +0.2%
  • UK’s FTSE 100, +0.4%
  • Spain’s Ibex, +0.45%
  • Italy’s FTSE MIB, unchanged
For the week, the major indices are all solidly higher:
  • German Dax, +4.18%
  • France’s CAC, +4.5%
  • UK’s FTSE 100, +1.9%
  • Spain’s Ibex, +4.1%
  • Italy’s 4.9%

Year to date, all the indices are also higher:

  • German Dax, +5.71%
  • France’s CAC, +8.87%
  • UK’s FTSE 100, +4.62%
  • Spain’s Ibex, +6.9%
  • Italy’s footsie MIB, +8.4%
In the European debt market, the benchmark 10 year yields are ending the day higher across the board

European yields are higher across the board
In the forex, the snapshot of the strongest weakest as London/European traders look to exit shows the CAD is extending its lead to the upside after a trauma than expected jobs report today. The NZD and GBP remain the weakest. The USD is stronger but losing ground vs the CAD.

Eurostoxx futures +0.7% in early European trading

  
  Global Indices
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A bit of catch-up play in early trades

  • German DAX futures +0.6%
  • UK FTSE futures +0.8%
  • Spanish IBEX futures +0.4%
European indices close the day near the lows yesterday, down by over 2% across the board, missing out on the late recovery in US equities towards the latter stages.
Hence, the gains here are largely due to some catch-up play and belies the more tepid and cautious risk mood to kick start the session.
US futures aren’t doing a whole lot, with S&P 500 and Nasdaq futures keeping at flat levels at the moment. Major currencies are also mostly little change besides some mild strength in the yen, with AUD/USD seen a little weaker under its 100-day moving average.

Eurostoxx futures +0.5% in early European trading

  
Global Indices, Uncategorized
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Some mild optimism flowing in early trades

  • German DAX futures +0.6%
  • UK FTSE futures +0.4%
  • Spanish IBEX futures +0.4%
US futures have also moved higher in the past hour, with S&P 500 futures now up ~0.7% while Nasdaq futures have pared losses to flat levels now and that is feeding to some slight positive momentum to start European morning trade.
In the currencies space, the aussie is also ticking a little higher with AUD/USD now testing 0.7300 and the confluence of its key hourly moving averages @ 0.7294-13.
USD/CAD is also nudged lower from 1.3110 to 1.3090 and testing the confluence of its own key hourly moving averages @ 1.3086-91 currently.

Eurostoxx futures +0.7% in early European trading

  
  Analysis
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Optimistic tones observed in early trades

  • German DAX futures +0.9%
  • UK FTSE futures +0.9%
  • Spanish IBEX futures +0.6%

European indices ended yesterday more mixed in another somewhat disappointing session, but the late gains seen in US stocks is giving risk buyers another shot in trading today.

This sets up a firmer open for equities later but that isn’t quite translating into much for the major currencies space as the focus remains on the dollar, as it meets some key technical crossroads going into the session ahead.

European shares have a rebound Monday

  
Analysis, Global Indices
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List of Europe Country CodesMajor indices close lower last week. The week is getting off to a better start

Last week, the European indices all closed lower for the week. Today however, the indices are getting off to a better start. All the major indices are higher. The provisional closes are showing:

  • German DAX, +2.4%
  • France’s CAC, +2.3%
  • UK’s FTSE 100, +1.7%
  • Spain’s Ibex, +1.96%
  • Italy’s FTSE MIB, +2.1%
In the European debt market, the benchmark 10 year yields are ending mostly higher with Spain up 2.3 basis points leading the way. Italian yields are near unchanged at -0.1 basis point.

European shares close lower and give up earlier gains

  
  Analysis
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Major indices down across the board

The European shares are closing lower on the day after trading higher earlier. The provisional closes are showing:

  • German DAX, -0.5%. The high reached +1.0%
  • France’s CAC, -0.8%. The high reached 0.59%
  • UK’s FTSE 100, -1.0%. The high reached 0.57%
  • Spain’s Ibex, -0.8%. The high reached 1.06%
  • Italy’s FTSE MIB, -0.6%. The high reached 1.05%

European shares end the session with solid gains

  
Analysis, Global Indices
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Major indices up sharply

The flow funds into the European markets continue today with sharp moves to the upside in the major indices. A look at the provisional closes are showing:

  • German DAX, +2.1%
  • France’s CAC, +2.4%
  • UK’s FTSE 100,
  • Spain’s Ibex +2.8%
  • Italy’s FTSE MIB, +2.8%
For the year, the European shares are still down sharply:
  • German Dax -2.2%
  • France’s CAC, -15.9%
  • UKs FTSE -18.4%
  • Spain’s Ibex, -24%
  • Italy’s FTSE MIB, -14.05%

European shares end the session higher

  
Analysis, Global Indices
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German DAX near unchanged in up and down session

The major European stock indices are ending the session flat or higher. The German DAX was the weakest as it closes near flat for the day. Spain’s Ibex is the strongest with a gain of near 1.4%.

The provisional closes are showing:
  • German DAX, unchanged
  • France’s CAC, +0.3%
  • UK’s FTSE 100, +0.3%
  • Spain’s Ibex, +1.4%
  • Italy’s FTSE MIB, +0.5%
In the European debt market, the benchmark 10 year yields are ending the session lower.
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