Stock markets closed on Friday with sharp losses

European stocks closed with sharp losses on Friday. Most significant declines recorded the banking sector, resource companies and carmakers. Amid the intensive equity sell off, investors turned to the safer government bonds.

Stoxx Europe 600 fell 2.4% to 332.92 points, ending at the lowest level since 6th May. Moreover, the decline marked the biggest daily loss since February 11. Stoxx 600 Index marked the second consecutive week of losses, marking a weekly decline of 2.5%.

DAX 30 index plummeted with 2.5% to finish at 9,836.00, reaching a 3-week low. FTSE 100 index dipped 1.80% to 6,119.47 points. CAC 40 dropped with 2.21% to 4,3078.12, while the pan-European Euro Stoxx 50 index fell 2.56% to close at 2,912.59.

US stocks reported losses for a second business day in a row on Friday, pressured by the Brexit uncertainty and the decline in oil prices.

Earlier in the week, S & P 500 almost reached its record high at 2,130.82 set in May 21, 2015.
On Friday, S & P 500 recorded a decrease of 0.9% to 2,096.07 points, falling below the psychological level at 2,100. The benchmark recorded a weekly loss of 0.2%, which was the first decline for the last  four weeks.
Among the other indices,  Dow Jones Industrial Average dropped with  0.66% to 17,866.71 and Nasdaq is down with 1.29% to 4,894.55 points.

European stocks moved in green despite thin volumes

European stocks started the new week with good gains, marking fifth consecutive positive trading session. As stock exchanges in UK and US remained closed throughout the day and macro agenda offers nothing special, the trading volume was significantly lower.
The attention of market players this week will be mainly focused on the forthcoming data on US unemployment rate and the change in non-farm payrolls as well as ECB meeting on Thursday.
During the last trading session German’s DAX 30 index added 0.46% to finish at 10 333.23, while the French CAC 40 index increased 0.32% to 4 529.40 and the pan-European Euro Stoxx 50 index rose 0.43% to 3,088.50.
Among the best performers that moved DAX 30 up are Volkswagen AG, Daimler AG and Bayer AG, as their shares rose respectively by 1.70%, 1.52% and 1.30%. On the downside with biggest daily losses rolled Thyssenkrupp AG, Siemens AG and Deutsche Post AG downgrading market capitalization respectively with 0.38%, 0.34% and 0.13%.

European stocks closed with strong gains

Since the beginning of the month, European stocks closed significantly elevated and pinned the best performance, despite opening in red on Tuesday.

The British FTSE 100 was up with 1.35% to 6219.26 points, the French CAC 40 leaped 2.46% to 4431.52 points and Euro Stoxx 50 jumped 2.76% to 3013.84 points. Best performed the Italian FTSE MIB with a growth of 3.34% to 17,903.97 points.

Germany’s  DAX climbed 2.33% to finish at 10,057.94 points and marked one-week high at 10,077.50

Technically speaking the index failed to break resistance at 11400 points and now gravitates within the range 9300-11400. Next resistance on upwards is the psychological level at 11700, where it is not excluded a false breakout. Even bulls are seen in a sluggish pace now, the uptrend is still in place. Eventual downward correction would lead the price to support levels located at 10000, 9300 and 8900.

To be a rock and not to roll

This passage evokes so many interpretations, 

but what I would label it now is stable.

China’s economy showed a sign of some stabilization,

that woke up the bulls and make them able 

to uplift the European indices and send them to profound elevation.

DAX 30 finished today 2.71% higher reaching 10,026.10 points, 

FTSE 100 jumped with 1.78% and crossed the finish line with 6,353.52 points.

CAC 40 flyed away with 3.32% to 4,490.31 points 

and Euro Stoxx 50 closed with a gain of 3.26% at 3,038.12 points.

The optimism glittered mostly over DAX, 

that was tagged on the stairway of April’s highs.