European stock market, economy and companies update (December 28, 2011)
*** SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM ***
***Notes/Observations***
- Japan releases a batch of weak domestic economic numbers
- U.S. Treasury issued its semi-annual report on currencies which again did not name China as a manipulator
- Italian yields dramatically lower in 6-month and 2013 auctions
Equities:
FTSE 100 +0.70% at 5,548, DAX +0.10% at 5,895, CAC-40 +0.80% at 3,126, IBEX 35 +0.25% at 8,550, FTSE MIB +1.2% at 15,103, SMI +0.40% at 5,908
- European equity indices open the session mixed ahead of the Italian debt auction results, as most banks traded lower at the start of the session and as the use of the ECB's daily deposit facility continues to hit all-time highs. Also, most of the UK-listed miners opened the session lower. Equities have since rebounded following the debt auction results out of Italy. The FTSE-MIB equity index has traded to session highs, as Italy paid a much lower yield than what was seen in the prior auction.
