Saturday, 15 June 2024

European equity close: The elections can’t come soon enough

by BD Banks

Closing changes:

  • Stoxx 600 -1.0%
  • German DAX -1.3%
  • UK FTSE 100 -0.1%
  • French CAC -2.7%
  • Italy MIB -2.9%
  • Spain IBEX -0.9%

This was the worst week in the Stoxx 600 since October. Does this trend-break matter? A 50% retracement of the rally since October would be a 6.6% decline from here.

Meanwhile, the CAC 40 has already retraced 50% of the gain since October and the question is whether it makes a round trip.

The first round of the French election is June 30 and the second round on July 7 — that’s 15 trading days.

This article was written by Adam Button at www.forexlive.com.

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