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European Benchmarks Lower, Domestic Matters & Negative Chinese Lead Weigh

EQUITIES
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European benchmark equity indices on the defensive to start the week.

  • Euro Stoxx 50 futures trade as low as 4,934.00. Bull cycle in the contract remains in play, initial support at the 20-day EMA (4,876.03) remains untested.
  • A negative lead from China noted following the softer-than-expected official Chinese PMI data.
  • Softer-than-expected Spanish PMIs and move higher in European yields also feed in.
  • Some point to the AfD’s gains in regional elections in Germany as a source of pressure for the DAX, although our political risk team do not expect the news to force meaningful political upheaval.
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European benchmark equity indices on the defensive to start the week.

  • Euro Stoxx 50 futures trade as low as 4,934.00. Bull cycle in the contract remains in play, initial support at the 20-day EMA (4,876.03) remains untested.
  • A negative lead from China noted following the softer-than-expected official Chinese PMI data.
  • Softer-than-expected Spanish PMIs and move higher in European yields also feed in.
  • Some point to the AfD’s gains in regional elections in Germany as a source of pressure for the DAX, although our political risk team do not expect the news to force meaningful political upheaval.