European Markets Close Higher as Traders Head for the Exit

As traders in London and Europe head for the exits, the major European stock indices are closing the session firmly in positive territory. Italy’s FTSE MIB led the gains, while both the German DAX and Spain’s Ibex added more than 1%.

Here are the final closing levels:

• German DAX: 25,575.02, up 270.95 points or 1.07%

• France’s CAC 40: 8,138.95, up 73.92 points or 0.92%

• UK’s FTSE 100: 10,739.02, up 79.88 points or 0.75%

• Spain’s Ibex: 19,724.40, up 210.60 points or 1.08%

• Italy’s FTSE MIB: 52,371.53, up 826.29 points or 1.60%

European benchmark 10-year yields moved sharply lower:

• Germany: 3.453%, down 6.2 basis points

• France: 4.466%, down 8.8 basis points

• UK: 5.218%, down 6.6 basis points

• Spain: 3.911%, down 7.8 basis points

• Italy: 4.334%, down 8.5 basis points

Rising equities and falling yields created a supportive backdrop for risk assets during the European session.

US stocks surge, led by technology

Across the Atlantic, the major US indices are also trading higher, with the Nasdaq leading the advance:

• Dow industrial average: up 233 points or 0.45%

• S&P 500: up 85 points or 1.12%

• Nasdaq Composite: up 454 points or 1.71%

• Russell 2000: up 19 points or 0.66%

• Nasdaq 100: up 658 points or 2.22%

The strength is being led by technology and semiconductor shares.

Among the large-cap technology companies, Meta and Alphabet are outpacing the Nasdaq composite, but the rest of the Magnificent 7 are underperfoming:

• Meta: +8.23%

• Alphabet: +2.12%

• Nvidia: +1.27%

• Amazon: +0.85%

• Apple: +0.51%

• Tesla: +0.30%

• Microsoft: little changed

Some of the largest gains are concentrated in the semiconductor sector, with:

• ARM Holdings: approximately +15%

• Intel: +14.05%

• AMD: +8.89%

• Astera Labs: +7.89%

• Credo Technology: +5.31%

The Nasdaq Composite and Nasdaq 100 have both moved above key technical resistance levels today, shifting the short-term bias more firmly in the buyers’ favor.

For traders, the next test is whether those broken resistance levels can now hold as support. If they hold, the buyers remain in control. If they fall back below, the break starts to look more vulnerable.

Oil tumbles while Bitcoin rebounds

WTI crude oil is down $3.90, or more than 4%, at $92.18. The sharp decline helps ease some of the inflation concerns associated with the recent Middle East-driven surge in energy prices.

Gold and silver are also modestly lower:

• Spot gold: $4,347.57, down 0.70%

• Gold futures: $4,347.50, down 0.68%

• Silver: $66.16, down 0.09%

Copper is moving in the opposite direction, rising 1.17% to $6.7700.

Bitcoin has rebounded strongly and is trading near $85,933, up approximately 5.9%.

Overall, the market tone is decidedly risk-on as European traders exit: stocks are higher, government bond yields are lower, oil is falling sharply and Bitcoin is rebounding. Technology and semiconductor shares are leading the charge, but buyers will still need to defend the broken technical levels to keep the bullish momentum intact.