December 5, 2022

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European shares close mostly lower. UK FTSE 100 an exception

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German Dax down for the second consecutive day

The European shares are closing mostly lower.  the one exception is the UK FTSE 100 which is closing up marginally.

The provisional closes are showing:

  • German DAX, -0.1%
  • France’s CAC, -0.3%
  • UK’s FTSE 100, +0.3%
  • Spain’s Ibex, -0.65%
  • Italy’s FTSE MIB, -0.8%

Looking at other markets as London/European traders look to exit:

  • Spot gold is trading down five dollars or -0.28% at $1782.
  • Spot silver is trading down $0.20 or -0.86% at $23.63
  • WTI crude oil is trading up $0.19 or 0.28% at $67.58
  • The price of bitcoin is trading down 100 dollars at $45,830

In the US stock market, the major indices are all trading lower with the NASDAQ index had the hardest:

  • Dow -261 points or -0.73% at 35363
  • S&P index -28.63 points or -0.64% at 4451.24
  • NASDAQ index -140 points or -0.95% at 14652.94

In the US debt market, yields are higher after starting the New York session negative. The 10 year yield is currently trading at 1.268% (up 1.1 basis point).

US yields are up

In the European debt market, the benchmark 10 year yields are also higher with Spain leading the way with 81.2 basis point increase.

European benchmark 10 year yields are higher

In the forex, the EURUSD is trading near it’s session lows as is the GBPUSD. The USD is the runaway strongest of the majors, while the NZD is the weakest after the New Zealand PM restarted lockdowns after one Covid case.

The US dollars the strongest

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