Most European stock indexes are bullish today. Investors are satisfied by the recent inflation report from China, which shows that the rate of inflation has been slowing down 4 months in a row.
Stoxx Europe 600 (composite index) has already gained 0,28% since the beginning of the trading session. Dow Jones Euro Stoxx 50 has increased by 0,42% up to 2442,47.
FTSE 100 is seeing a 0,05% increase up to 5848,93, CAC 40 has gained 0,45%, thus touching 3453,76. DAX (Germany) has boosted by 0,175 up to 6954,47 today.
As for stocks, Nestle’s stock is 1,9% stronger. Its net income increased by 8,9% up to $5,28 bn in the first half of 2012.
As for banks, Credit Agricole SA’s stock dropped 0,3% in the morning while BNP Paribas SA gained 0,6%. Banco Santander SA (Spain ) is seeing a 1,35 increase.
According to , FTSE 100 is showing irregular moves. If to assume that there is wave 5 (in the shape of EDT), it looks too horizontal in comparison with other momentums of the same wave level. That is why, we should consider one more scenario – waves (1)-(2), followed by the beginning of wave (3). Levels 5793 – 5784 are critical for this scenario.
