Archives of “FTSE MIB” tag

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European shares little changed to end the week

  
Analysis, Global Indices
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Major indices lower on the week

The major European indices are in the week little changed. For the week, there are modest declines.

The provisional closes for today are showing:

  • German DAX, -0.1%
  • France’s CAC, +0.3%
  • UK’s FTSE, -0.1%
  • Spain’s Ibex, +0.35%
  • Italy’s FTSE MIB, unchanged
For the week, most indices are ending lower:
  • German DAX, -1.95%
  • France’s CAC, -0.44%
  • UK’s FTSE, -0.63%
  • Spain’s Ibex, -0.40%
  • Italy’s FTSE MIB, +1.1%
Looking at the hourly chart of the German Dax below, the index traded below its 50 hour MA on Monday, below the 100 hour MA (blue line) on Tueday and felll below its 200 hour MA (green line) yesterday. Today, that 200 hour MA was a lid for the brief ralllies.
On the downside, the 38.2% at 12260.52 is the next target.

European shares end mostly in the red

  
Analysis, Global Indices
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German Dax down -0.85%

The European major stock indices are closed and the provisional closes by pointing mostly to the downside:
  • German DAX, -0.85%
  •  France’s CAC, -0.3%
  • UK’s FTSE, -0.1%
  • Spain’s Ibex, -0.1%
  • Italy’s FTSE MIB, -0.41%
Over the last 24 hours, BASF, the large German chemical company gave an earnings warning blaming what weakness and US-China trade war.  They do not see the situation improving in the 2nd half of 2019. The German economy saw factory orders fall on Friday.  Daimler cut its profit outlook for the 3rd time in a year.  Deutsche Bank announced yesterday that it would cut 18,000 jobs globally in a restructuring play to save the bank.
In the European debt market, the benchmark 10 year yields are ending the session mixed with German, France and UK rates higher, while the riskier Spain, Italy and Portugal yields saw investor demand (lower yields).
German Dax down -0.85%

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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