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European indices end the day in the red

  
Analysis, Global Indices
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Indices close near lows for the day

The European indices are ending the day lower and also closing near the lows for the day.
The provisional closes are showing:
  • German DAX, -0.5%
  • France’s CAC, -1.4%
  • UK’s FTSE 100, -1.1%
  • Spain’s Ibex, -1.7%
  • Italy’s FTSE MIB, -0.7%
For the week, the indices are down sharply:
  • German DAX -4.0%
  • France’s CAC -3.49%
  • UK’s FTSE 100, -3.25%
  • Spain’s Ibex, -5.7%
  • Italy’s FTSE MIB, -4.9%
For the month, the German DAX closed near unchanged. The other indices were lower:
  • German DAX, unchanged
  • France’s CAC, -3.1%
  • UK’s FTSE 100, -4%
  • Spain’s Ibex, -4.9%
  • Italy’s FTSE MIB, -1.46%

In the benchmark 10 year yields today, yields have moved back higher after being negative at the start of the North American session

Indices close near lows for the day

Major European indices end the session mixed

  
Analysis, Global Indices
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Provisional closes for the European major indices

the European stock markets are closing for the day with mixed results. Germany, France, UK, and Spain are all trading within 0.11% of the Friday close.  Italy had the biggest move with decline of -0.60% or more. The major indices are closing well off the session highs as well.
The provisional closes are showing:
  • German DAX, +0.07%. At the high the index was up 0.87%
  • France’s CAC, -0.06%. At the high the index was up 0.93%
  • UK’s FTSE MIB, +0.11%. At the high the index was up 1.07%
  • Spain’s Ibex, -0.06%. At the high the index was up 0.70%
  • Italy’s FTSE MIB, -0.68%. At the high the index was up 0.44%

European indices end the session lower on the day

  
Analysis, Global Indices
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German DAX, -0.54%, UK’s FTSE 100 -0.96%

The major European indices are ending the day lower. The provisional closes are showing:

  • German DAX, -0.54%
  • France’s CAC, -1.28%
  • UK’s FTSE 100, -0.96%
  • Spain’s Ibex, -1.42%
  • Italy’s FTSE MIB, -0.74%
The 10 year yields showed meaningful moves to the downside. Italian yields fell the most at -5.7 basis points. German yields declined by -3.3 basis points
European yields are lowerIn other markets as London/European traders look to exit:
  • spot gold continues its move to the upside with a gain of $19.60 or 1.07% at $1861.50. Sobers doing even better with a $1.09 gain or 5.13% to $22.39.
  • WTI crude oil futures for September delivery are down $0.57 or -1.36% at $41.35. Inventory data confirmed the private data with a build of 4.892M barrels. The expectations was for a -2.2M draw.
In the US stock market the major indices are mixed:
  • S&P index is up 4.9 points or 0.15% at 3262.69
  • NASDAQ index is down -1 point or -0.1% at 10679.30
  • Dow industrial average is up 82 points or 0.31% at 26923.
In the forex market, the EUR is the strongest while the JPY is the weakest of the majors. The US dollar is down vs. all the major currencies with the exception of the JPY. It is near unchanged vs. the GBP and has recovered losses of around 90 basis points at the London morning session lows.

European shares end the session with mixed results

  
Analysis, Global Indices
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Italy and Portugal indices move higher

the major European indices are ending the session with mixed results. Germany, France, UK and Spain show declines while Italy and Portugal eked out gains. The closes are showing:

  • German DAX, -0.43%
  • France’s CAC, -0.42%
  • UK’s FTSE 100, -0.62%
  • Spain’s Ibex, -0.2%
  • Italy’s FTSE MIB, +0.3%
  • Portugal’s PSI 20, +0.95%
Italy and Portugal indices move higher_
In the European debt market, benchmark 10 year yields fell across the board with UK yields down the most at -2.8 basis points.
European 10 year yieldsIn other markets as London/European traders look to exit:
  • spot gold $-4.25 or -0.23% $1806.05. The high for the day reached $1813.48. The low extended to $1802.97
  • WTI crude oil futures fell $0.19 or -0.46% to $41.01. It’s high price reached $41.18 while the low extended to $40.60. The September contract is currently down $0.21 or -0.51% of $41.19
In the forex market,
  • GBPUSD. The GBPUSD is trading at new session highs in the currently hourly bar. In the process, the price has moved back above its 200 and 100 hour moving average. That tilted the bias back to the upside in what has been an up and down market over the last 7 or so trading days. On the topside a trendline connecting highs from this we currently comes in at 1.2634. The high from yesterday reached 1.26487. The high for the week on Monday reached 1.26652.
  • EURUSD: The EURUSD moved higher in the London session after finding support buyers near the 38.2% retracement of the move up from the Friday low at 1.13759. The high price reached 1.1441. The high price from yesterday reached 1.14512. There is close support at 1.14223 area

Major European indices closing higher, reversing earlier session lows

  
Analysis, Global Indices
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German DAX rises 1.5%. France’s CAC up 0.9%

The major European indices are closing higher and in the process reversed earlier session lows. Provisional closes are showing:
  • German DAX, +1.5%. The low extended to -0.87%
  • France’s CAC +0.9%. The low extended to -1.39%
  • UK’s FTSE, +1.2%. The low extended to -0.68%
  • Spain’s Ibex, +1.2%. The low extended to -1.66%
  • Italy’s FTSE MIB, +1.1%. The low extended to -2.11%

In the European debt market, the benchmark 10 year yields are ending the session lower. The biggest decline are was France at -1.7%. It moved above the 0.0% level at the highs today (high yield reached 0.002%). Buyers came in and pushed yield down into the close (trading at -0.033%).

In the UK today, the treasurysold £3.8bn of three-year gilts at a yield of -0.003%. That was the first sale below 0% in the UK as investors look for further declines in UK rates as the battle Brexit and coronavirus headwinds.
Bank of England’s governor Bailey said that the challenge for the central bank is getting inflation to return to target.
German DAX rises 1.5%. France's CAC up 0.9% 

European shares end the day with solid gains

  
Analysis, Global Indices
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German DAX, +3.13%. France’s CAC, +2.3%

the major European indices are ending the day with gains across the board led by the German Dax up 3.13%. The German DAX, France’s CAC, and Italy’s FTSE MIB are closing near highs for the day.
Below are the percentage ranges for major indices in both the US and Europe. The US stock indices are also trading at session highs with the session.
German DAX, +3.13%. France's CAC, +2.3%_In the European debt market, the the benchmark 10 year yields were mixed with Germany and UK yields up while France, Spain, Italy, and Portugal yields lower.
European yields are mixed

In the US debt market, yields are higher with a steeper yield curve. The 2 – 10 year spread is up to 42 basis points from 37.63 basis points on Friday.

US yields are higher
In other markets:
  • spot gold is trading down $18.13 or minus was 1.06% at $1711.32
  • WTI crude oil futures (June contract )are sharply lower with the price down $4.75 or -28% at $12.19

European shares close with mostly modest gains

  
Analysis, Global Indices
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German Dax up 0.5%

The European shares are closing with mostly modest gains as Germany works toward the reopening of the economy.
The provisional closes are showing:
  • German DAX up 0.5%  . The low reached -0.42%
  • France’s CAC up 0.2%.  The low reach -0.80%
  • UK’s FTSE 100 up 0.8%. The low reached -0.35%
  • Spain’s Ibex up 0.3%. The low reached -1.56%
  • Italy’s FTSE MIB up 0.7%. The low reached +0.06%
In the European debt market, the benchmark 10 year yields are ending with declines across the board, with the Italian yields falling the most at -3.9 basis points.
European yields are lower
In other markets as London/European traders look to exit shows:
  • spot gold up $10.28 or 0.60% at $1727.37
  • WTI crude oil futures are trading up $0.22 or 1.11% at $20.10

European shares end higher but the full story for the day is not so rosy

  
Analysis, Global Indices
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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%

European equities start to see gains erode

  
Analysis, Global Indices
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DAX turns negative, Stoxx 600 turns flat on the day

Germany DAX

Trouble in paradise? Both were up by a little over 2% to start the European morning but we are seeing the market turn tail and run with USD/CHF slipping back close to 0.9600.
US futures have also seen gains from the early European morning peter out, with E-minis just up by ~0.5% currently. USD/JPY is also back lower now to 107.75 after having hit a high of 108.58 just two hours ago.
The market is still holding out hope for global central bank stimulus, but as highlighted here, it may not necessarily be the solution to dig investors out of the hole.

European indices end the session lower but off lowest levels

  
Analysis, Global Indices
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German DAX, -0.62%. France’s CAC, -0.62%. UK’s FTSE, -0.54%

The major European indices are ending the session (and the week) lower.
A look at the provisional closes are showing:
  • German DAX, -0.62%. The intra-day low extended to -1.2%
  • France’s CAC, -0.62%. The intra-day low extended to -1.1%
  • UK’s FTSE 100, -0.54%. The intra-day low extended to -0.89%
  • Spain’s Ibex, -0.46%. The intra-day low extended to -0.88%.
  • Italy’s FTSE MIB -1.34%. The intra-day low extended to -1.63%
The changes in ranges for the major stock indices in Europe and US
For the week, the these are ending in the red:
  • German DAX, -1.2%
  • France’s CAC, -0.74%
  • UK’s FTSE 100, -0.17%
  • Spain’s Ibex, -0.72%
  • Italy’s FTSE MIB, -0.49%

In other markets as London/European traders exit for the day shows:

  • S&P index -0.79%
  • NASDAQ index -1.18%
  • Dow -0.68%
Spot gold is trading up $20.06 or 1.24% at $1639.70
WTI crude oil futures are trading down $0.66 or -1.22% of $53.23
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