Major European indices close higher. Another solid week for the major indices

The major European indices are closing higher for the day and higher for the week. The indices are now up for the third consecutive week.

A snapshot of the closing levels shows:

• German DAX rose 2.62%. For the trading week the index was up 3.8% last week the index rose 4.89%
• Francis CAC rose 2.33%. For the trading week the index rose 3.11%.
• UK FTSE 100 rose 1.17%. For the week the index rose 2.15%
• Spain’s Ibex rose 1.20%. For the week the index rose 0.68%, but closed at its highest level going back to 2008
• Italy’s FTSE MIB rose 1.92%. For the week the index rose 2.62%.

For the year the major indices are all higher:

• German DAX is up 15.96%
• Francis CAC is up 5.28%
• UK FTSE 100 is up 5.18%
• Spain’s Ibex is up 15.97%
• Italy’s FTSE MIB is up 12.12%

By way of comparison, the US major indices are lower on the year:

• Dow industrial average -2.80%
• S&P index -3.18%
• NASDAQ index -6.62%

This article was written by Greg Michalowski at www.forexlive.com.