Most European stock indices are trading in the green zone despite the fact that S&P’s cut Spain ’s rating by 2 steps at a time. However, several companies have presented positive quarterly reports.
The current market situation looks as follows:
· Stoxx Europe 600: + 0,1% up to 269,07.
· Dow Jones Euro Stoxx 50: -0,16% down to 2452,73.
· FTSE 100: + 0,16% up to 5785,68.
· CAC 40: + 0,16% up to 3371,10.
· DAX: +0,14% up to 7215,40.
The chart below, courtesy of , reflects the current state of affairs in the market of FTSE 100:
The market is still in downtrend but is currently forming a recovery move. A break below 5752 will resume the downtrend through elongating the existing bearish wave.
