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European stocks give up gains. End the session lower.


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Yields lower on the day

The European stocks have given up their gains into the day’s close and are ending the session mostly lower:

  • German DAX fell -0.2%
  • France’s CAC fell -0.5%
  • UK’s FTSE, ended flat
  • Spain’s Ibex fell -0.9%
  • Italy’s FTSE MIB fell -0.6%
  • Portugal’s PSI 20 fell -0.14%

In the benchmark 10 year debt sector, yields were lower:
Moody’s on Friday, cut Italy’s debt to Baa3 – its lowest investment-grade rating.  It kept a “stable” outlook as well. Going to to the edge was enough to tempt back investors in trading today, but even so, the yields on Italy’s debt is well off the lows for the day.  UK yields are also lower on the Brexit fears. 

In other markets as London/European traders look to exit:

  • spot gold is down $5.74 or -0.47% at $1221
  • WTI crude oil futures are down $.10 or -0.14% at $69.02

In the US stock market, the major indices have been up-and-down. Currently, the indices are mixed with the NASDAQ leading the way:

  • S&P index -9.2 points or -0.33% at 2758.60
  • NASDAQ index +29 points or 0.39% at 7478
  • Dow industrial average -140 points or -0.55% at 25303.

In the US debt market yields are near unchanged levels after being marginally lower earlier in the day.

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