European stock market close 22 January 2016

  • FTSE+2.4 %
  • Cac +3.3%
  • Dax +2.3%
  • Ibex +3.5%
  • FTSE Mib +1.8%

European bonds

  • Italy 1.58% +2bp
  • Spain +1.74% +2bp
  • Portugal 3.04% -5bp
  • Germany 0.484% +3bp
  • Greece 9.30% -73bp

Europe's stock markets have managed the impossible. They've put together two winning days in a row. There's a couple who have managed it once this month but for someone like France, you've got to go back to mid-Dec to see the last time it happened. In reality the streak is about as amazing as finding 4 flat tyres on your car, but changes in direction often start with small steps like these.

On the flipside they can also suck us into a false sense of security so before jumping in, wait until the streak is at about 20, just to be sure ;-)