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Home ANALYSIS

European indices end the session with gains on the day

A.R Chowdhury by A.R Chowdhury
September 16, 2021
Reading Time: 2 mins read
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European indices end the session with gains on the day

Spain and Italy lead the way

The major European indices are ending the session with gains on the day. The Italian and Spanish markets are the biggest gainers:

  • German DAX, +0.3%
  • France’s CAC, +0.6%
  • UK’s FTSE 100, +0.2%
  • Spain’s Ibex, +1.2% 
  • Italy’s FTSE MIB, +0.8%

In the European debt market, the yields are mixed with Italy, Spain, France down marginally well Germany and UK benchmark 10 year yields are higher.

Spain and Italy lead the way_
In other markets as European/London traders look to exit:
  • Spot gold is trading down $-40 or -2.25% $1753.93
  • Spot silver is trading down $1.09 or 4.95% at $22.73
  • WTI crude oil futures are trading down $0.51 -0.70% at $72.10

The USD as moved sharply higher on the back of better US data (retail sales and Philly Fed index both much stronger than expected). The once flight into safety is also helping. The AUD and CHF are the weakest. The CHF trended lower coming into the day and has given up some of its premarket declines post US data.

The US dollar stronger

US stocks saw the Dow industrial average and S&P trade higher early in the session, but quickly reversed to the downside. The NASDAQ index has been negative for the entire day as traders are concerned about stronger economic growth pushing up inflation:

  • Dow industrial average is down -186 points or -0.54% at 34629
  • S&P index is down -27 points or -0.60% of 4453.71
  • NASDAQ index is down -82 points or -0.54% 15079.45

In the US debt market, yields remain higher but off their highest levels:

US yields are higher but off their highs levels

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