European equity close: Germany leads a bounce after three days of declines

Closing changes in Europe:

• Stoxx 600 +0.5%
• German DAX +0.8%
• France CAC +0.5%
• UK FTSE 100 +0.1%
• Spain IBEX +0.4%
• Italy’s FTSE MIB +0.6%

Here is how Deutsche Bank tees up the recent declines in France.

The biggest story yesterday came from France, where there remain serious
concerns about the budget situation and a potential government collapse. That led to
further losses among French equities, and the CAC 40 was down -0.72% yesterday,
underperforming the other European indices. Indeed, that keeps
the CAC 40 on track for the worst performance of the big European indices, having
fallen by -5.30% since the start of the year, which is well behind the STOXX
600 that’s seen a +5.42% gain. Banks were impacted in
particular by the latest declines, with losses for Société Générale (-3.48%),
Crédit Agricole (-1.34%) and BNP Paribas (-1.19%).

This article was written by Adam Button at www.forexlive.com.