All to play for today as European indices get back towards their 50dma. We have been stuck below for a while now so it would be nice to see them closing above ahead of the weekend. Quick summary, IBEX was above its 50dma yesterday but back testing it today (go España go!). FTSE MIB tested 19599 throughout the morning but is now trading well above it (19676 last). The UK is above though (despite a weaker MoM GDP print, 2.1% vs est. 4.6%) – FTSE 100 back above not only 5990 (50 dma) but also its long standing support of 6000. Lots of encouraging moves across the pond too. S&P Advance Decline line made a new all-time high yesterday (evidencing that the market breath is indeed good) and the Russell 2000 finally cleared the 1600 level - next target 5% higher.
The content on this site is available to all Redburn clients as part of Redburn Execution’s standard service. It is not considered substantive research and there are no commercial implications to viewing these pages.
Please enter your email address below to view this page. If you are still unable to access the page, please speak to your account manager.