European indices close mixed. German economic data today was mixed

Major European indices are closing with results.

In Germany today, a slew of economic data needed a mixed picture.

• Preliminary figures from Destatis showed that annual inflation eased slightly to 2.1% in April from 2.2% in March, though it came in just above the consensus estimate of 2.0%.
• Meanwhile, the economy showed modest signs of recovery, with GDP expanding by 0.2% in the first quarter—rebounding from a 0.2% contraction in the previous quarter. Despite this improvement, analysts at ING warned that Germany could still face a rare third consecutive year of mild recession, stressing that economic revitalization should be a top priority for the incoming government.
• In the labor market, the unemployment rate ticked up to 6.3% from 6.2%, while the number of unemployed rose by 4,000—well below both the prior increase of 26,000 and the expected 20,000.

A summary of the closing levels shows

• German DAX, +0.32%
• France’s CAC, +0.50%
• UK’s FTSE 100, +0.37%
• Spain’s Ibex, -0.59%
• Italy’s FTSE MIB -0.71%.

As European traders exit for the day, US stocks or rebounding in trading the highest levels for the day but still down.

• Dow industrial average -178 points or -0.44%
• S&P index point at 44 points or -0.79%
• NASDAQ index -200 points or -1.16%

Looking at the US debt market, yields are mixed:

• 2-year yield 3.635%, -2.1 basis points
• 5-year yield 3.761%, -0.9 basis points
• 10 year yield 4.177%, +0.5 basis points
• 30 year yield 4.674%, +2.7 basis points

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