European Indexes Were Mixed as Crude Oil Futures Fell
Global Markets Fall, Take a Cue from Retreating Commodity Prices
European indexes mostly traded lower
Critical European markets (DBEU) were all trading on a mixed note with a slight negative bias on March 23, 2016, at 2:00 PM EST. The Euro Stoxx 50 ETF (FEZ) fell by 0.13% at 2:00 PM EST. The German DAX rose by 0.35% while France’s CAC 40 traded lower by 0.23%.
The downside was evident on the commodity-driven economies of Russia and Turkey as crude oil (USO) futures prices fell by 3.3% at 2:00 PM EST. The Turkish BIST 100 fell by a significant 1.7%. The Russian (RSX) index MICEX fell by 1.2%.
Among the other major European indexes (IEV) and the Portugal PSI 20 Index fell by 0.57%. The Belgium BEL200 index rose 0.15%. In the non-Eurozone markets, the mixed trend was evident as the United Kingdom’s (FKU) FTSE 100 rose by 0.10%. Sweden’s OMX Stockholm 30 fell by 1.0%.
Italian wage inflation and Spanish PPI release
iStat published the Italian month-over-month wage inflation for February. It rose 0.1%. It was in line with the Market’s forecast. The YoY (year-over-year) wage inflation rose by 0.8%. The Spanish producers price index for February fell by 5.7% on a YoY basis. It was below the forecast of a fall of 2.3%.
Swedish consumer confidence rose
Swedish consumer confidence for March rose by 99.7. It was above the forecast of 98.5. Business confidence was below the forecast at 106.8. Among other Eurozone data, the Polish unemployment rate remained unchanged at 10.3%.
In the next part of the series we’ll look at how the Asian markets fared on March 23, 2016, when the monetary policies came out for the Philippines and Thailand.
Browse this series on Market Realist:
