The major European indices are ending mostly lower. The one exception is the UK FTSE 100 which eked out a small gain. A snapshot of the closing levels shows:
- German DAX fell -5.06 points or -0.03% at 15566.81
- Frances CAC fell -23.49 points or -0.33% at 7190.42
- UK’s FTSE 100 rose 13.43 points or 0.17% at 7692.06
- Spain’s Ibex fell -42.82 points or -0.45% at 9506.09
- Italy’s FTSE MIB fell -149.27 points or -0.52% at 28559.28
For the trading week, the major indices are all closing lower:
- German DAX fell -2.06%, the largest decline since July 31 week
- Frances CAC fell -2.55%, its largest decline since July 3 week
- UK’s FTSE 100 fell -0.25%
- Spain’s Ibex fell -0.46%
- Italy’s FTSE MIB fell -1.17%
Technically, the price action in France’s CAC is closing below its 200-day moving average at 7207.11. The index has not closed below its 200 day moving average (see green line in the chart below) since November 3, 2022 (there have been days when the price traded below the moving average over the last few months).
France’s CAC closes below the 200 day MA today
Versus the German DAX, the price action today took the price below the 200-day moving average at 15549.31, but a late-day rally has pushed the price back above that moving average level averting a negative technical close.
German Dax falls below 200 day MA but closes above the MA.