Major indices decline for the day, but the Italy's FTSE MIB bucks the trend
The European stock trading has close for the day and most the major indices are ending in the red. The exception is the Italian FTSE MIB which is risen by 0.4%. Financial stocks in Italy are being supported today after Intesa launched a surprise bid for UBI.
The provisional closes are showing:
German DAX, -0.86%
France's CAC, -0.5%
UK's FTSE 100, -0.85%
Spain's Ibex, -0.2%
Italy's FTSE MIB, +0.4%
In the European debt market, the benchmark 10 year yields are ending marginally lower with the exception of the Italian 10 year which is up by 1.8 basis points.
In other markets as London/European traders look to exit, US stocks are trading lower (and near lows for the day):
S&P index, -22.86 points or -0.68% at 3357.23
NASDAQ index -49 points or -0.50% at 9682.05
Dow -264 points or -0.90% at 29133.5
Spot gold is surging by $23 or 1.45% and is trading back above the $1600 level for the 1st time since January 8.
WTI crude oil futures are trading down $0.62 or -1.17% at $51.43. Crude oil prices were much lower at $50.88. The high price reached $52.41.
In the US debt market yields are moving back to the downside with the yields across the yield curve down -3.5 to -4.8 point basis points