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European Markets
European markets delivered a mixed bag of results during Tuesday’s trading session. The index tracking the German market, the DAX, lost 0.02% of its value as the French CAC 40 shed 0.21%. On the contrary, the FTSE 100 posted a gain of 0.91% were it now has a value of 7.522.03. Thyssenkrupp AG registered the largest gain during the day’s session on the German DAX as it saw its shares climb by more than 4%, while Lufthansa AG was among the biggest losers of the day as it lost 0.8%of its total market value.
The sovereign bond market saw yields on the ten year benchmark bonds rise in most of the Eurozone countries as the German bund now yields 0.437% while the French ten year bond now yields 0.885%. The Italian ten year sovereign suffered the biggest loss on Tuesday as its currently yielding 2.217% compared to Monday’s close of 2.22%. In the currency market, the Euro rose by 0.84% against the American dollar while it also posted solid gains against the British Pound by climbing 0.69%. On a year to date basis, the Euro is up by more than 9% against the Pound.
American Markets
The American market was marginally down during Tuesday’s trading session. The S&P 500 lost 0.01% of its total value or 0.34 points compared to the previous day’s close. The Dow Jones Industrial Average (DJIA) was marginally up by 0.09%, although the way in which the DJIA calculates its value is different from that of the S&P 500. The day’s biggest winner on the American market during Tuesday’s session was Advanced Micro Devices Inc. (AMD) as its shares rose by 7.71%. Shares in the microchip maker now trade at $12.30. Under Armour was among the day’s largest losers as its share price declined by 4.39% as 4.64 million shares traded hands during the trading session.
The U.S. ten year treasury saw its yield fall to 2.326% on Tuesday as prices rose by 0.15%. Crude Oil saw it price stabilise around the $48.84 level. Gold registered a price increase of around half a percent as it was trading at $1,237.20 during the session. The biggest story of the day came as the dollar index, which is an index that measures the value of the dollar relative to the value of a basket of currencies, was down by 0.68% and stood at 98.24. The Greenback lost 0.12% against the British pound and half a percent against the Japanese Yen.
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