UK FTSE 100 leads downward movement
The main European indices abandon gains of over 1% and end the day around or below unchanged (and at the low of the session). The UK FTSE is the largest declinator. The GBP is also the strongest currency of the day.
The temporary fences show:
- German DAX, + 0.1%. Traders reach highs of + 1.2%
- CAC of France, + 0.1%. It traded up to 1.3%
- UK FTSE 100, -1.1%. It traded up to 1.13%
- Ibex from Spain, fur -0.03%. It traded up to 1.49%
- Italy’s FTSE MIB fell -0.3%. It traded up to 1.26%
As London traders head for the exit, the GBP remains the strongest of the major currencies. The JPY remains the weakest. The USD remained mostly lower that day, but moved higher and lower in choppy trading.
In other markets, as London / European traders seek to exit:
- The S&P index is -2.3 points or -0.07% on 3428.50
- The NASDAQ index is up 11 points or 0.09% 11,390.95
- The Dow Jones is down -197 points or -0.70% to 28,110.64
- Spot gold is trading down $ 13.42 or -0.7% to $ 1,915.36. It is trading near its low for the day at $ 1914.31
- WTI crude oil futures are trading up $ 0.52 or 1.22% from $ 43.14
In the US debt market, yields remain higher:
- 2 years 0.161%, +1.0 basis point
- 5 years 0.307%, +2.5 basis points
- 10 years 0.701%, + 4.7 basis points
- 30 years 1.408%, +5.2 basis points
The US Treasury will auction US $ 50 billion in two-year notes at 1 p.m. This is the first of 3 older auctions. Tomorrow, the Treasury will auction $ 51 billion in 5-year notes. On Thursday, they will auction $ 47 billion in 7-year notes.