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Sunday, August 1, 2021

European shares see solid gains in trading today

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German DAX, +0.8%

The major European stock indices have seen solid gains in trading today.  The provisional closes are showing:

  • German DAX, +0.9%
  • France’s CAC, +1.2%
  • UK FTSE 100, +0.6%
  • Spain’s Ibex, +1.3%
  • Italy’s FTSE MIB, +1.2%

In the European debt market, the yields on moved lower with the UK yield down -3.8% after the Bank of England decision.

German DAX, +0.8%_

In other markets as London/European traders look toward the exit shows

  • Gold has given up its gains and trades up only $0.53 or 0.03% at $1779.20. At the start of the New York session, the price was up $7.80 at $1786.35.
  • Spot silver is up $0.17 or 0.69% at $26.07. That is the same level as the start of the North American session
  • WTI crude oil futures are up $0.14 or 0.19% at $73.22. The low price reached $72.32. The high extended to $73.61
  • Bitcoin is trading up $1348 or 4.07% at $34,414. At the start of the New York session it was trading at $34,124.70

A look at the US stock market as both the NASDAQ index and the S&P index both looking to close at record highs

  • S&P index up 23 points or 0.54% at 4264.90
  • NASDAQ index up 120.51 points or 0.4% at 14392.20
  • Dow industrial average up 240 points or 0.71% at 34114.68

In the forex market, the snapshot of the strongest and weakest shows the NZD remains the strongest and the GBP remains the weakest, but the gains and losses vs the major currencies has seen some erosion. The usd is showing little gains or losses versus the EUR, JPY, CHF, AUD and NZD. The greenback is higher verse the GBP and the CAD.

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