European indices are ending the day down as the aftermath of the elections continue to bother investors. France will have trouble forming a government given their mix. The UK Labour take charge after 14 years of a Tory rule.
Uncertainty in lead to selling and that is what we’ve seen in the equity market today in Europe.
The final numbers are showing:
- German DAX, -1.28%
- France CAC -1.56%
- UK FTSE 100 -0.65%
- Spain’s Ibex -1.2%
- Italy’s FTSE MIB -1.12%
Looking at the daily chart of the France’s CAC, the price today gapped below the 200-day MA at 7632.51, and stayed below that MA for the entire trading day. The low price from June reached 7456.47 and will be the next key target.
