European indices close with solid gains

The European major indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Read this Term are closing with solid gains on the day. Investors let out a sigh of relief after better-than-expected GDP data.

• French GDP rose 0.5% vs. 0.2% expected
• Italy GDP rose 1.0% vs. 0.3% expected
• Spain GDP rose 1.1% vs. 0.4% expected
• German GDP came in worse than expected 0.0% vs. +0.1%
• Overall the euro zone flash GDP came in at 0.7% vs. 0.2%

Looking at the closing levels:

• German DAX rose 201.92 points or 1.52% at 13484.04
• France's CAC rose 109.30 points or 1.72% at 6448.51
• UK's FTSE 100 rose 78.16 points or 1.06% at 7423.42
• Spain's Ibex rose 71.3 points or 0.88% at 8156.21
• Italy's FTSE MIB rose 470 points or 2.15% at 22402.62

For the trading week:

• German DAX rose 1.74%
• France's CAC rose 3.73%
• UK's FTSE 100 rose 2.02%
• Spain's Ibex rose 1.3%
• Italy's FTSE MIB rose 5.8%

Looking at the France's CAC on a daily chart below, the price moved and closed above its 100 day moving average for the 1st time since February 17 yesterday. That moving average comes in at 6319.35 currently. Today the price gapped higher and extended above its 38.2% retracement at 6378.46. Those levels are now close risk for the pair.

The next major target on the daily chart comes against the 50% retracement at 6570.62 followed by the 200 day moving average 6630.97.