Technical Analysis

European shares end the session higher. German DAX leads the way

German DAX +2.1%

The European shares of all closed higher with the German DAX leading the way with a gain of 2.13%. The Portuguese PSI 20 is the laggard with a 0.8% gain.

The final numbers are showing:

  • German DAX, +2.13%
  • France’s CAC, +1.39%
  • UK’s FTSE 100, +1.21%
  • Spain’s Ibex, +1.26%
  • Italy’s FTSE MIB, +1.86%
  • Portugal’s PSI 20, +0.8%

I the European debt market, the benchmark 10 year yields are ending the session mixed with investors fleeing the relative safe German and France in favor of Italy and Portugal.

Today the flash PMI data in Europe came in better than expectations.
  • France manufacturing 52.1 vs. 46.1 estimate
  • Germany 44.6 vs. 41.5 estimate
  • Eurozone 46.9 vs. 43.8 estimate
  • UK 50.1 vs. 45.2 estimate

The services sector flash estimates were also better than expectations.

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