Technical Analysis

European equity close: Another day of gains, why not?


What a start to the year for European stock markets.

Closing changes on the day:

  • Stoxx 600 +0.5%
  • German Dax +0.2%
  • France’s CAC +0.7%
  • UK’s FTSE 100 +0.7%
  • Spain’s Ibex +0.6%
  • Italy’s FTSE MIB +0.2%

On the week:

  • Stoxx 600 +1.9%
  • German Dax +3.4%
  • France’s CAC +2.4%
  • UK’s FTSE 100 +1.9%
  • Spain’s Ibex +2.1%
  • Italy’s FTSE MIB +2.4%

The year-to-date gains are now above 8% in Europe, which is surely better annual performance than 99% of European hedge funds over the past decade.

I see this move as a roundtrip from the worries about natural gas supply that started in Aug/Sept. Does it deserve another lift beyond that?

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