German Dax leads the rise in the major indices
The European stock indices are ending the day higher with the German Dax leading the charge. It rose by 0.93% or 100.53 points to 10950.67. Spain's Ibex was the next biggest winner up 0.55%
The German Dax index has been toying with the 50% of retracement of the move down from the 2015 high (at the 10856.59 level). Today the price moved above and closed above for the first time. The price also moved further away from the 100 day MA at the 10652.46 level (see blue line in the chart below). The 200 day MA (green MA line) at the 11060.43 remains a topside hurdle to get and stay above if the buyers are to take even more control.
In the European debt markets, the 10 year notes of the major countries all showed gains:
German: 0.557 +4 bp
France: 0.925% +6 bp
Italy: 1.647% +16 bp
Portugal: 2.604% +6 BP
Spain 1.750% +8 bp
Greece: 8.06% +17 BP
UK 1.935% +1 BP