European Markets

The European stock markets did not seem to react too well to Emmanuel Macron’s win in the French Presidential election as the German DAX and the French CAC40 both closed in the red on Monday. The German market lost 0.18% of its value, while the French market slumped by 0.91%. In contrast, the U.K.’s FTSE100 closed marginally higher at 7,300.86 and registered a 0.05% increase. The Euro Stoxx 50 index, which tracks the largest fifty public companies in the Eurozone, was also showing signs of weakness as it lost nearly half a percent of its value to settle at 3,642.11 at the closing bell.

European sovereign bonds yields were all trading higher as the German 10 year posted as 0.0012% gain while the Italian and Spanish ten year bond yields also rose by 0.0748% and 0.0298% respectively. Surprisingly, French bond yields dipped on Monday as the French ten year bond yield fell to 0.838% compared to last Friday’s yield of 0.837%. Macron’s victory has reassured markets that France will not be following the U.K. out of Europe and that it will continue to play a key role within the development of the single market. The euro weakened against the dollar during Monday’s trading session as it lose 0.0067% of its value and now stands at 1.0932.

American Markets

The American markets also reported negative numbers at the start of the trading session as the S&P 500 was marginally lower at 2,398.03 and shed 0.05% from its value in the process. U.S. treasury yields were reporting positive numbers as the yield on the benchmark ten-year was slightly up by 0.033%. The American dollar lost some ground against the Sterling during Monday’s trading session, but rose in value against both the Swiss Franc and the Japanese Yen by 0.01% and 0.28% respectively.

Oil continued on its downward trajectory as the price of Crude Oil fell by 0.14% and now trades at $46.08 per barrel. Gold traded slightly higher during Monday’s session as the commodity, often used as a hedge against inflation and considered a safe haven asset, rose by 0.06%.

Apple Get the Buffett Seal of Approval

Shares of Apple Inc. surged further into uncharted territory Monday, after Warren Buffett’s Berkshire Hathaway Inc. disclosed that it boosted its stake in the technology giant to nearly $20 billion in recent months. The billionaire investor’s investment vehicle disclosed in its quarterly filing with the Securities and Exchange Commission that Apple was its second-biggest equity holding by value, after increasing its investment to $19.2 billion worth of the stock as of March 31 from $7.1 billion as of Dec. 31.