The Majors
It was a bearish begin to the week for the European majors, with the DAX30 falling by 0.80% to cleared the path down. The CAC40 and EuroStoxx600 weren’t far behind, with losses of 0.78% and 0.67% respectively.
A scarcity of financial knowledge left COVID-19 in focus.
Throughout the EU, low vaccination charges and a spike in new COVID-19 instances, despite containment measures, weighed.
In China, experiences of a spike in new COVID-19 instances added to the market angst on the day.
The Stats
It was a very quiet day on the financial calendar. There have been no materials stats to offer the majors with route at the beginning of the week.
From the U.S
It was additionally a very quiet day on the financial calendar, with no materials stats to affect following final week’s knowledge dump.
The Market Movers
For the DAX: It was a bearish day for the auto sector on Monday. BMW and Continental slid by 2.06% and by 2.64% respectively. Daimler and Volkswagen noticed extra modest losses of 0.95% and 1.10% respectively.
It was a bullish day for the banks, nonetheless. Deutsche Financial institution rose by 0.42%, with Commerzbank rallying by 2.12%.
From the CAC, it was a bearish day for the banks. BNP Paribas fell by 0.67%, with Credit score Agricole and Soc Gen declining by 1.36% and by 1.35% respectively.
It was additionally a bearish day for the French auto sector. Peugeot and Renault ended the day with losses of 1.59% and 1.02% respectively.
Air France-KLM fell by 1.52%, with Airbus SE ending the day down by 0.36%.
On the VIX Index
A run of 4 consecutive days within the crimson got here to an finish for the VIX on Monday, marking only a 2nd day within the inexperienced from 8 periods. Reversing a 3.62% fall from Friday, the VIX rose by 11.69% to finish the day at 24.08.
Market response to the continued rise in COVID-19 instances and low vaccination charges weighed on riskier property at the beginning of the week.
The NASDAQ slid by 1.25%, with the Dow and the S&P500 falling by 0.29% and by 0.66% respectively.
