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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

Major indices in Europe close sharply lower

  
  Analysis
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For the week major indices close sharply higher

The major indices are closing the day lower with the UK’s FTSE 100 leading the way to the downside:
  • German DAX, -1.6%
  • France’s CAC, -1.5%
  • UK’s FTSE 100, -2.5%
  • Spain’s Ibex, -2.3%
  • Italy’s FTSE MIB, -0.7%
For the week, the major indices closed sharply higher with the France’s CAC and Spain’s Ibex leading the way:
  • German DAX, +4.7%
  • France’s CAC, +6.13%
  • UK’s FTSE 100, +1.2%
  • Spain’s Ibex, +6.3%
  • Italy’s FTSE MIB, +5.2%

Looking at the daily chart for the German DAX, the index moved above its 100 day moving average for the 1st time since February 24 this week. That moving average currently comes in at 11559.22. The price is closing above that level trading today giving a more positive bias despite the declines on the day.. The low today in the German DAX reached 11575.74 – above that key moving average level.

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 shares end the session lower

  
Analysis, Global Indices
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But off lowest levels for the day

The major European indices are ending the session lower, but off the lowest levels of the day. The provisional closes are showing:
  • German DAX, -1.4%
  • France CAC, -1.2%
  • UK’s FTSE, -0.8%
  • Spain’s Ibex, unchanged
  • Italy’s FTSE MIB, -0.8%
In the debt market, the benchmark 10 year yields are ending the session lower. With the UK yield down -5.5 basis points.
But off lowest levels for the day_

European shares end sharply lower on the day on global growth concerns

  
Analysis, Global Indices
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Coronavirus hurting major indices

European major indices are ending sharply lower on the back of global growth concerns as a result of the coronavirus.  The provisional closes are showing:
  • German DAX, -2.6%
  • France’s CAC, -2.7%
  • UK’s FTSE 100, -2.32%
  • Spain’s Ibex, -1.9%
  • Italy’s FTSE MIB -2.2%

In the European debt markets, yields are ending sharply lower with Italy leading the way after regional elections turned back attempts from Salvini’s attempt to bring national politics more to the right (and away from the EU).  Investors flocked into the Italian debt instruments.

European yields are sharply lower with Italy leading the way

In other markets as European/London traders look to exit are showing:
  • spot gold up $10.70 or 0.68% $1582.25
  • WTI crude oil futures are down $1.56 4-2.86% at $52.64. That is off the low $52.13.  Brent crude oil futures are down $1.77 or 2.9% at $58.93. It’s low reached $58.50

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 shares end the day (and the week) with solid gains

  
Analysis, Global Indices
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Global hope on Brexit and a US/China deal

The major European indices are ending the day (and the week) with solid gains. The provisional closes are showing:
  • German DAX, up 2.7%. That is the best day cents January 4
  • France’s CAC, up 1.7%
  • UK’s FTSE, up 0.7%
  • Spain’s Ibex, up 1.7%
  • Italy’s FTSE MIB, up 1.8%
For the week, the major indices are also ending with decent games.  Provisional changes for the week are showing:
  • German DAX, +4.1%
  • France’s CAC, +3.2%
  • UK’s FTSE, +1.22%
  • Spain’s Ibex, +3.28%
  • Italy’s FTSE MIB, +3.1%

In the European debt market, the benchmark 10 year yields are mostly higher with UK yields soaring by 12.1 basis points on hopes for a Brexit deal.

UK yields have soared by 12.1 basis points today
Looking at the yield chart for the 10 year in the UK, the yield moved above its 100 day moving average today for the 1st time since little looks above in April and May (that failed).  The last extended time above the 100 day MA was back in November 2018 (at much higher levels).
The UK 10 year yield
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