A negative start for the European equity markets for August

<p>The major European indices are off to a bad start for the month of August. All are lower on the day and closing near the lows for the day. The declines are led by Spain's Ibex which fell -1.44%.</p><p>A snapshot of the closing levels shows:</p><ul><li>German DAX, -1.26%</li><li>France's CAC, -1.22%</li><li>FTSE 100, -0.43%</li><li>Spain's Ibex, -1.44%</li><li>Italy's FTSE MIB</li></ul><p>The German DAX reached a new all-time high during trading yesterday at 16528.97. Today's rotation to the downside is a disappointment for buyers on the break.</p><p>Spain's Ibex also reached a new high level recently (on Friday) at 9741. 90. The price did move lower yesterday and continued its decline in trading today.</p>

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