European shares close higher despite weak data today

The major European indices are closing the day higher despite what was weak flash European PMI data for both manufacturing and service.

The final numbers are showing:

• German DAX +0.89%
• France’s CAC +0.58%
• UK’s FTSE 100 +1.38%
• Spain’s Ibex +0.39%
• Italy’s FTSE MIB +0.60%

For the trading week indices are mixed with France and Italy moving lower and Germany, UK, and Spain moving higher.

• German Dax +0.58%
• France’s CAC -0.20%
• UK’s FTSE 100 +2.46%
• Spain’s Ibex +0.1 don’t worry about them serving soaring new 8%
• Italy’s FTSE MIB -2.04%

Looking at the European yields, the benchmark 10 year yields moved lower on the weaker data:

• Germany 2.245%, -8.2 basis points
• France 3.046%, -6.7 basis points
• UK 4.392%, -4.0 basis points
• Spain 2.977%, -7.5 basis points
• Italy 3.508%, -5.1 basis points

for the trading week 10 year yields were lower

• Germany, -9.5 basis points
• France -2.7 basis points
• UK -6.8 basis points
• Spain -8.0 basis points
• Italy -3.9 basis points

As London/European traders head for the exits for the week, US stocks are higher:

• Dow industrial average +0.76%
• S&P index +0.26%
• NASDAQ index +0.05%
• Russell 2000+1.57%

In the US debt market, yields are mixed with the shorter end higher in the longer and lower:

• 2-year 4.362%, +1.3 basis points
• 5-year 4.289%, -1.4 basis points
• 10 year 4.402%, -3.0 basis points
• 30 year 4.584%, -3.6 basis points

A snapshot of other markets shows:

• Crude oil is $0.86 or +1.24% at $70.97
• Gold is up $36.78 or 1.3% at $2706.15. The price is moving closer to its all-time high closing level of $2787.42, after correcting toward the 100 day moving average and find support buyers back on November 14.

• Bitcoin is trading at $99,127. The high price today reached $99,500 earlier today. Come on Bitcoin 100K.

This article was written by Greg Michalowski at www.forexlive.com.