Major European indices end the day with mixed results.


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. 

The CAD is the strongest of the major currencies
In other markets as European/London traders exit show:
  • Spot gold -7 dollars or -0.41% at $1750.74
  • Spot silver $-0.37 or -1.44% $25.74
  • WTI crude oil futures up seven cents or 0.09% $66.08
  • Bitcoin is down -$195 or -0.34% at $57,413

US stocks are mixed with the Dow higher and the S&P and NASDAQ lower as the flow of funds favor the cyclicals over the technology sector

  • S&P index -12 points or -0.3% at 3927.40
  • NASDAQ index -155 points or -1.16% at 13244.34
  • Dpw up 142 points or 0.43% at 32623.26 (another new record close is eyed).

In the US that market yields are sharply higher the 10 year and 30 year up over eight basis points:

US yields are higher with the 10 and 30 year of ovary basis points



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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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