As London/European traders head for the exits, the major European equity indices are closing mixed, but Germany’s DAX and Spain’s Ibex stand out after closing at new record highs.
The DAX rose 0.26%, while the Ibex added 0.20%, extending the recent run of record-setting performances across European equities
European markets have been pushing into record territory recently amid strong corporate earnings and optimism surrounding U.S.-Iran negotiations. The closing levels show: German DAX: +0.26% at 26,391.43 — record close France CAC 40: -0.13% at 8,714.95 UK FTSE 100: -0.17% at 10,844.20 Spain’s Ibex: +0.20% at 20,213.61 — record close Italy’s FTSE MIB: +0.08% at 53,706.20 The relatively subdued moves come as investors continue to weigh developments in the Middle East. Pakistan’s Defense Minister Khawaja Asif said today that the U.S. and Iran are close to “some sort of an arrangement,” adding that recent signals suggest things are moving toward a peace agreement.
Qatar has also indicated that negotiations over the Strait of Hormuz have reached an advanced stage. However, shipping disruptions and disagreements over the terms of an agreement continue to keep uncertainty elevated. In the European debt market, benchmark 10-year yields moved lower across the board: Germany: 3.158%, -2.6 basis points France: 3.977%, -1.1 basis points UK: 4.965%, -3.5 basis points Spain: 3.599%, -2.7 basis points Italy: 3.952%, -2.7 basis points US stocks trade mixed As European traders head home, the major U.S. stock indices are also trading mixed, with the Russell 2000 outperforming while the Nasdaq is the weakest of the major indices.