Home›US Markets›Indices›DAX and Ibex hit new highs as European stocks finish m…

DAX and Ibex hit new highs as European stocks finish mixed

The DAX rose 0.26% and the Ibex gained 0.20%, while European trading remained subdued as investors weighed signals on U.S.-Iran talks and ongoing uncertainty around the Strait of Hormuz.

Reported · Written up by our desk · Indices

European markets closed mixed, with the Germany’s DAX and Spain’s Ibex the standout finishers at new record highs, while other major indexes ended the session lower. Forexlive said the DAX rose 0.26% and the Ibex added 0.20%, extending a run of record-setting performance across parts of European equities.

Forexlive attributed the steady overall tone to ongoing uncertainty related to the Middle East, even as Pakistan’s defense minister said the U.S. and Iran are close to “some sort of an arrangement” and Qatar indicated negotiations over the Strait of Hormuz have reached an advanced stage.

In the U.S., Forexlive said major stock indexes were also mixed, with the Russell 2000 outperforming as the Nasdaq was the weakest of the major indexes. In rates markets, yields were lower across the curve and near the lows for the day, with the earlier weaker U.S. jobs report pushing expectations toward roughly a 50-50 chance of a hike in September.

Forexlive also pointed to higher crude oil prices, linking sensitivity to Strait of Hormuz headlines, and said U.S. existing home sales in July were slightly better than expected but declined for a second straight month. It added that elevated mortgage rates continued to weigh on affordability and turnover, with inventory improving to 4.6 months of supply but still below levels linked with a balanced market.

Latest closeWTI crude $82.30 ▲5.3%|Nasdaq Comp. 26,605.36 ▼0.3%|Russell 2000 3,017.40 ▼0.6%

More like this

Sources