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%

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