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European equity close: Moderate selling weighs on stocks

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

  • UK FTSE 100 -0.3%
  • German DAX 0.4%
  • Italy MIB +0.2%
  • French CAC -0.4%
  • Spain IBEX +0.4%
The periphery did better today. In Spain stocks opened much lower but recouped the losses quickly and then finished at he highs of the day. The IBEX daily chart continues to consolidate but that’s a nice rejection of the lower trendline.
Closing changes for the main European bourses:

Euro Stoxx index falls for the first time in 11 trading sessions

  
Analysis, Global Indices
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European indices move lower today

The major European indices have closed lower today.

  • The Euro Stoxx index fell for the first time in 11 trading sessions (10 higher closes).
  • The German Dax came off of a record levels.
  • The France’s CAC could not reach its all-time high from 2000
A look at the provisional closes shows:
  • German DAX, -0.5%
  • France’s CAC, -0.9%
  • UK’s FTSE 100, -1.0%
  • Spain’s Ibex, -0.83%
  • Italy’s FTSE MIB, -0.85%
The Euro Stoxx index fell -0.7%.
In other markets as London/European traders look to exit:
  • Spot gold plus $5.50 or 0.32% at $1784.85.
  • Spot silver is up for cents or 0.21% $23.75
  • WTI crude oil futures are down $0.35 or -0.49% at $67.60
  • bitcoin is trading down $773 at $46,248. The digital currency traded above $48,000 today
In the US stock market, the major indices are lower but off their lowest levels:
  • Dow is down -79 points or -0.22% at 35436
  • S&P index is down -16.29 points or -0.36% at 4451.53
  • NASDAQ is down 125 points -0.85% 14697.65
In the forex market, the CHF is now the strongest of the majors while the CAD remains the weakest. The USD is mixed with gains vs the CAD, AUD and NZD and declines vs the JPY and CHF. The greenback is near unchanged levels vs the EUR and GBP.

European shares and the day with solid gains

  
  Analysis
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German Dax up 1.9%. UK FTSE 100 up 2.3%

The major European indices are ending the day with solid gains led by the UK’s FTSE 100.
The provisional closes are showing:
  • German DAX, +1.9%
  • France’s CAC, +1.7%
  • UK’s FTSE 100, +2.3%
  • Spain’s Ibex, +1.5%
  • Italy’s FTSE MIB, +1.8%

In the European debt market, the benchmark 10 year yields are ending the day mixed results. The UK and Spain yields are down marginally while Germany, France, Italy are marginally higher.

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 rise. German Dax (major indices) up for the 4th consecutive day

  
Analysis, Global Indices
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Run to the upside continues

The European shares are closing higher for the day. The German DAX, France’s CAC, UK FTSE 100 has now moved higher for 4 consecutive days.
A look at the provisional closes shows:
  • German DAX, +1%
  • France’s CAC, +1%
  • UK’s FTSE 100, +2.2%
  • Spain’s Ibex, +0.4%
  • Italy’s FTSE MIB, +1.0%

As London/European traders look to exit, the CHF remains the strongest. The JPY has taken over as the weakest of the majors.  The USD has moved lower in the NY session (compared to opening levels). It is now mostly lower with declines vs. the CHF, EUR, CAD, AUD and NZD and gains only vs the JPY. It is back to unchanged vs the GBP after being higher vs the pound at the start of the day.

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.

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 mixed

  
Analysis, Global Indices
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France and Spain indices move lower

The European shares are ending the session with mixed results. France and Spain indices are lower. Germany, UK, Italy are trading higher.

The provisional closes are showing:
  • Germany Dax, +0.44%
  • France CAC, -0.36%
  • UK FTSE 100, +0.6%
  • Spain’s Ibex, -0.34%
  • Italy’s FTSE MIB, +0.2%
For the week, the indices closed higher:
  • German DAX, +2.3%
  • France’s CAC, +1.9%
  • UK’s FTSE 100, +3.15%
  • Spain’s Ibex, +1.8%
  • Italy’s FTSE MIB, +3.1%
In the European debt market, the benchmark 10 year yields are mostly and modestly higher. The exception is the Italian 10 year which is trading down -1.5 basis points.
European debt market
In other markets as European/London traders look toward the exits for the week:
  • spot gold is trading at $13.50 or 0.75% $1810.70. The high price extended to $1811.11 the low has reached $1795.96
  • WTI crude oil futures are trading down $0.27 or -0.66% of $40.48. The high for the August contract reached $40.90 while the low extended to $40.02. The September contract is currently trading down $0.27 or 0.66% at $40.66
In  the US equity market, the major indices are trading mixed. The Dow industrial average is down on the day while the S&P and NASDAQ index are currently trading in the black
  • S&P index is up 3.25 points or 0.10% at 3218.81
  • NASDAQ index is up 11.5 points or 0.11% at 10,485.25
  • Dow industrial average is trading down 43.12 points or -0.16% at 26691.40
In the US debt market the yields are trading near unchanged across the curve:
  • 2 year 0.143, -0.2 basis points
  • 5 year 0.278%, +0.3 basis points
  • 10 year 0.618%, +0.1 basis point
  • 30 year 1.314%, +0.6 basis points
A look at the strongest and weakest currencies at the close of the London session shows the CHF is the strongest and the GBP is the weakest.  The US dollar is mostly lower.
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