As London and European traders head for the exits, European shares are closing mostly lower, with selling seen across most of the major markets.
France’s CAC led the declines with a fall of 1.68%, while Italian, Spanish and UK shares also finished under pressure
Germany’s DAX was the lone bright spot, managing to eke out a modest gain of 0.27%. German DAX: +0.27% France’s CAC: -1.68% UK FTSE 100: -0.79% Spain’s Ibex: -0.93% Italy’s FTSE MIB: -1.17% In the European debt market, benchmark 10-year yields moved mostly higher despite the weakness in equities. German and French yields led the move, rising 1.4 and 1.3 basis points, respectively.
The UK was the exception, with its 10-year gilt yield falling 1.3 basis points. Germany: 3.251%, +1.4 basis points France: 4.101%, +1.3 basis points UK: 5.029%, -1.3 basis points Spain: 3.704%, +1.0 basis point Italy: 4.078%, +1.0 basis point In the foreign exchange market, the U.S. dollar is trading mostly lower against the major currencies. The Australian dollar is leading the gains, followed by the Canadian and New Zealand dollars.