🔼DE40 gains 1.3%

Strong gains can be spotted on the European stock markets during the final trading session of the week. Rotation out of large caps and into small caps that was seen yesterday on Wall Street did not too place in Europe and blue chips indices from the Old Continent continued rebound launched in mid-June 2024. German DAX futures (DE40) trade over 5% above June 14, 2024 lows. DE40 trades over 1.3% higher today, marking the biggest single-day jump since March 15, when the index jumped 2%. Outlook for quicker rate cuts in the United States, as well as lower political uncertainty following French parliamentary elections are supporting European equities this week.

Taking a look at DE40 chart at H4 interval, we can see that the index has fully recovered from losses suffered after EU elections. Index is trading near 18,900 pts mark - the highest level since May 28, 2024. Note that the index is trading less than 1% below its all-time highs reached in the 19,000 pts area in mid-May 2024.

DE40 makes the biggest single-day jump since mid-March 2024 and climbs to the highest level since late-May 2024. Source: xStation5