Posts Tagged ‘European markets’
European Markets Are Going Nowhere Ahead Of Crucial French And Spanish Bond Auctions
The 2012 global miracle market rally has stalled in Europe as it awaits some highly anticipated bond auctions.
France’s CAC 40: up 0.4%
England’s FTSE 100: up 0.0%
Germany’s DAX: up 0.0%
Spain is selling up to 4.5 billion euros worth of debt and France is selling up to 9.5 billion worth. This comes after last Friday’s sovereign debt downgrades by S&P.
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See Also:
- WHEW: French And Spanish Bond Auctions Go Smoothly, Banks Surge
- Here’s A Look At Spain’s Unemployment Rate Versus The Rest Of The Developed World
- There May Be A Simple Explanation For The Weird Rally In Stocks
Global Rally Continues: Japanese And Australian Stocks Are Surging
Asian markets are soaring in early trading tonight. Granted, the Japanese markets are opening for the first time this year.
Japan’s Nikkei is up 1.1%.
Australia’s S&P/ASX is up 2.0%.
This follows a 1.5% gain in the U.S. stock markets earlier today.
U.S. futures are currently flat in electronic trading.
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See Also:
- Asian Stocks Are Inching Up On The Final Trading Day Of Year
- CHART OF THE DAY: Here’s How Every Asset Class Performed In 2011
- European Markets Breathe A Sigh And End 2011 On A Positive Day
HERE WE GO: Futures Are Exploding Higher, And Are Set For A Monster Opening
Happy 2012!
The futures have just begun trading in the U.S., and are indicating a monster open for U.S. stocks.
Dow futures are up over 220.
S&P futures are up over 2%.
Of course, this comes on the heels of a big day in Europe yesterday. Germany’s DAX gained 3% yesterday and is up another 1% or so today.
Other European markets are rallying well.
Meanwhile, there’s plenty of good news to digest: German unemployment data, UK PMI data, and BRIC PMI data have all been strong, so plenty of reasons to buy.
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See Also:
- STOCKS RALLY ON MORE GOOD HOUSING DATA: Here’s What You Need To Know
- Natural Gas Plunges To A 27-Month Low
- American Airlines Shares To Be Delisted In 2012
Global Markets Are Mixed On The Last Trading Day Of The Year (SPY, GLD)
Asian markets are mostly higher, with Shanghai up 1.2% and the Nikkei up 0.6%.
European markets are flat.
Dow futures point to a small drop at the open.
For the year, the S&P 500 is up 5.38 or 0.43%. Even if it finishes in the green, this will have been a throwaway year for stocks.
Gold has recovered to $1562 per ounce after falling to around $1520 yesterday. The euro is also bouncing back against the dollar.
Somehow the Dow remains one of the best performing stock markets of the year.
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See Also:
- The 11 Best Performing Stock Markets Of The Year
- SLEEP IN: Nothing Happening In Asian Markets To Spoil Your Christmas Vacation
- OUCH: Stocks Are At Intraday Lows And They’re Negative For The Year Again
Europe Closes: Early Rally Flops, And Italian Yields Shoot Above 7.1%
ORIGINAL POST, SEE UPDATES BELOW: It looked initially like today might be quiet in Europe, a merciful gift to those of us in the US who were hoping for a quiet Thanksgiving.
In fact, there was a pretty solid rally across the board, with yields down and stocks much higher.
But all that’s changed. At a press conference with Nicolas Sarkozy, Angela Merkel, and Mario Monti, talk of an unlimited ECB bailout for all of Europe was downplayed.
Since then markets have turned south.
Italy’s FTSE MIB index is now off 1%. The yield on the Italian 10-year is now back above 7%.
Here’s a look at the intraday behavior of the Italian market, which basically tells you everything you need to know.
Update 11:08 ET: Stocks have come back a bit, and are close to flat. However the Italian 10-year is now above 7.1%.
UPDATE 11:30 ET: European markets have now closed, and the Italian 10-year remains above 7.1%.
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See Also:
- Dow Now ONLY Off 175 After Rumor About Germans Maybe Accepting Eurobonds
- Just Like That, People Are Suddenly Talking About Germany’s Own Fiscal Problems
- NEWSFLASH: Greece Really Is On The Brink Of Default Right Now