While the German market is closed for a national holiday the European stock markets are trying to stabilize after the sharp sell-off of Wednesday. Investors are fearing further tariffs and a slowdown of economic growth, while central banks seem to be short of instruments to prevent further economic disruption. The attempts of stabilisation seen this morning could mean that markets have digested news about WTO and weak macro data seen in the last few days.
From a technical point of view, the CAC 40 is trying to hold the important support placed at $5,420/5,430, while the Italian FTSE Mib is on a similar position, just above 21,300.
