Major indices up for the year but not as great as the US gains in local currencies at least

Most of the major European stock indices are going out with a thud on the last day of the trading year:

  • German Dax closed down -0.48%
  • France's Cac fell -0.32%
  • UK FTSE 100 bucked the trend and is ending the session higher by 0.85%
  • Spain's Ibex is down -0.42%
  • Italy's FTSE MIB is down -1.14%
  • Portugal's PSI20 is up 0.30%

For the year, the % change shows ok gains (certainly above the 10 year yields):

  • German Dax rose 12.51%
  • France's Cac rose 9.46%
  • UK FTSE rose 7.63%
  • Spain's Ibex rose 7.47%
  • Italy's FTSE MIB rose 13.7%
  • Portugal's PSI20 rose 15.15%

For US investors, the EURUSD rise in 2017 gave the European market a kicker (on the EURos gains). Looking at the gains in USD terms:

  • German Dax rose 28.54%
  • France's Cac rose 24.82%
  • UK FTSE rose 17.86%
  • Spain's Ibes rose 22.69%
  • Italy's FTSE MIB rose 29.79%
  • Portugal's PSI20 rose 31.52%

In the 10 year debt sector today, yields were higher:

  • Germany 0.428%, up 0.4 bp. The year started at 0.175%
  • France 0.787%, up 1.8 bp. The year started at 0.652%
  • UK 1.19%, up 0.7 bp. The year started at 1.235%.
  • Spain 1.568%, up 4.8 bp. The year started at 1.326%
  • Italy 2.016%, up 6 bp. The year started at 1.795%
  • Portugal 1.949%, up 4 bp. The year started at 3.754%
  • Greece 4.115%, down -1.3 bp. The year started at 7.115%