Europe Market Wrap 28 August: all 12 European indices rise as autos gain 2.48 percent
Every one of the 12 European benchmarks in this wrap closed higher on Friday, on our calculation, led by the CAC 40 at 0.98 percent and the Euro Stoxx 50 at 0.95 percent. The advance was narrow in range rather than in breadth: the gap between the strongest and weakest index was 0.87 percentage points on our calculation, with the SMI’s 0.11 percent gain the smallest on the board.
A clean sweep across the European boards
Not one index on the board fell. The CAC 40 closed at 8,401.18 and the Euro Stoxx 50 at 6,485.67, while the DAX added 0.77 percent to 26,569.99 on the Xetra close. The Stoxx Europe 600, the widest gauge here, rose 0.51 percent to 655.16, which places it below 6 of the 10 national indices and above 4 of them, on our calculation.
At the other end, the SMI rose 0.11 percent and the FTSE 100 0.29 percent, the smallest gains on the board.
| Index | Close | Change |
|---|---|---|
| CAC 40 (France) | 8,401.18 | +0.98% |
| Euro Stoxx 50 (euro area) | 6,485.67 | +0.95% |
| AEX (Netherlands) | 1,112.28 | +0.81% |
| IBEX 35 (Spain) | 20,041.90 | +0.81% |
| DAX (Germany), Xetra close | 26,569.99 | +0.77% |
| FTSE MIB (Italy) | 52,616.12 | +0.67% |
| BEL 20 (Belgium) | 5,869.08 | +0.52% |
| Stoxx Europe 600 (Europe) | 655.16 | +0.51% |
| PSI 20 (Portugal) | 9,430.91 | +0.44% |
| OMXS30 (Sweden) | 3,331.26 | +0.30% |
| FTSE 100 (United Kingdom) | 10,824.26 | +0.29% |
| SMI (Switzerland) | 14,399.77 | +0.11% |
Closing levels for the 28 August 2026 session. Ranked by change. Ten levels are the originator’s own published close: Euronext for the CAC 40, AEX, BEL 20 and PSI 20, STOXX for the Euro Stoxx 50, BME for the IBEX 35, Borsa Italiana for the FTSE MIB, the London Stock Exchange for the FTSE 100, SIX for the SMI and Nasdaq for the OMXS30. The DAX is the Xetra close and the Stoxx Europe 600 the index administrator’s level, both as carried by CNBC.
Autos lead the sectors while healthcare lags
The sector board points to where the gains came from. Automobiles rose 2.48 percent, 2.1 times the next sector on our calculation, and banks added 1.20 percent. Healthcare was the only sector to fall, easing 0.66 percent.
That puts 3.14 percentage points between the best and worst sector in a single session, on our calculation, against 0.87 points across the national indices. The dispersion inside the market was therefore 3.6 times the dispersion between countries, on the same calculation, which is the clearer signal of what moved on the day.
| Stoxx Europe 600 sector | Close | Change |
|---|---|---|
| Automobiles and parts | 457.83 | +2.48% |
| Banks | 427.49 | +1.20% |
| Personal and household goods | 989.21 | +1.03% |
| Telecommunications | 285.85 | +0.70% |
| Basic resources | 870.27 | +0.36% |
| Oil and gas | 529.06 | +0.34% |
| Technology | 1,029.70 | +0.32% |
| Healthcare | 1,140.36 | -0.66% |
Stoxx Europe 600 sector indices, 28 August 2026 closes. Ranked by change. Source: CNBC.
France pays more than Italy on ten-year money
The sovereign curve carries the session’s closest spread. The French ten year yield stood at 4.136 percent against Italy’s 4.1079 percent at the 17:37 GMT capture, so France is paying 2.8 basis points more than Italy to borrow for a decade, on our calculation.
Measured against Germany, the French spread stands at 84.9 basis points and the Italian at 82.1 basis points, on the same calculation. The German curve itself steepened slightly, with the ten year at 3.2874 percent against the two year at 2.8915 percent, a gap of 39.6 basis points, as the ten year rose 1.4 basis points on a day the two year did not move.
| Sovereign yield | Yield | Change |
|---|---|---|
| France | 4.136% | +1.9 bp |
| Germany | 3.2874% | +1.4 bp |
| Italy | 4.1079% | +0.5 bp |
| United Kingdom | 5.1499% | 0.0 bp |
| Germany two year | 2.8915% | 0.0 bp |
Yields captured at 17:37 GMT on 28 August 2026. Changes are stated in basis points and are computed from each quote’s own change in percentage points.
Commodities, currencies and volatility
The dollar index rose 0.54 percent to 99.693, the euro fell 0.59 percent to 1.1582 dollars and the pound 0.46 percent to 1.3529 dollars.
Precious metals fell. Silver dropped 3.82 percent to 66.78 dollars an ounce and gold 2.92 percent to 4,527.60 dollars, the largest and third largest moves in this wrap on our calculation, with bitcoin’s 2.95 percent fall between them. Our Asia Market Wrap of 28 August put the dollar index at 99.163 in its 11:02 GMT capture; it stood 0.530 higher at the 17:37 GMT capture, on our calculation.
Crude eased on both benchmarks, Brent by 0.42 percent and West Texas Intermediate by 0.20 percent. The CBOE Volatility Index rose 0.90 percent to 14.64.
| Contract | Level | Change |
|---|---|---|
| WTI Crude, NYMEX (Oct’26), dollars a barrel | $83.36 | -0.20% |
| Brent Crude, ICE (Oct’26), dollars a barrel | $89.32 | -0.42% |
| Gold, COMEX (Dec’26), dollars an ounce | $4,527.60 | -2.92% |
| Silver, COMEX (Sep’26), dollars an ounce | $66.78 | -3.82% |
Most active contract quotes captured at 17:37 GMT on 28 August 2026, before the day’s settlement windows. These are intraday levels, not exchange settlements. Changes are measured against each contract’s previous close, which is the prior session’s settlement, so they are settlement to intraday. Contract months are those quoted at capture; vendors roll to the next active month at different times.
| Instrument | Level | Change |
|---|---|---|
| CBOE Volatility Index (VIX) | 14.64 | +0.90% |
| US Dollar Index (DXY) | 99.693 | +0.54% |
| Dollar/yen | 160.17 | +0.49% |
| Pound/dollar | 1.3529 | -0.46% |
| Euro/dollar | 1.1582 | -0.59% |
| Bitcoin, dollars | $77,695.12 | -2.95% |
Intraday quotes captured at 17:37 GMT on 28 August 2026, measured against each instrument’s previous close.
Saudi Arabian, Qatari, Bahraini and Jordanian markets trade Sunday to Thursday. The Dubai Financial Market, which trades Monday to Friday, said on 24 August that it would be closed on Friday 28 August for Al Mawlid Al Nabawi and would resume on Monday 31 August, and the Abu Dhabi Securities Exchange market status was closed.
Middle East, 27 August close, for reference
| Index | Close | Change |
|---|---|---|
| DFM General (Dubai) | 5,882.63 | +0.27% |
| QE Index (Qatar) | 9,876.29 | +0.23% |
| FTSE ADX General (Abu Dhabi) | 10,044.52 | +0.09% |
| Bahrain All Share (Bahrain) | 1,941.497 | -0.088% |
| Nomu Parallel Market (Saudi Arabia) | 21,797.66 | -0.12% |
| Tadawul All Share (Saudi Arabia) | 11,237.93 | -0.20% |
| ASE Index (Jordan) | 4,008.73 | -0.21% |
| MSCI Tadawul 30 (Saudi Arabia) | 1,514.43 | -0.32% |
Carried verbatim from our Middle East Market Wrap of 27 August 2026.
Asia, 28 August close, for reference
| Index | Close | Change |
|---|---|---|
| Taiex (Taiwan) | 46,331.45 | +0.77% |
| Topix (Japan) | 4,146.71 | +0.72% |
| S&P/ASX 200 (Australia) | 9,092.30 | +0.60% |
| Nikkei 225 (Japan) | 66,405.56 | +0.41% |
| Nifty 50 (India) | 24,175.65 | +0.35% |
| Straits Times (Singapore) | 5,699.93 | +0.28% |
| Hang Seng (Hong Kong) | 25,584.79 | +0.07% |
| Shanghai Composite (China) | 3,952.179 | -0.11% |
| Shenzhen Component (China) | 13,953.066 | -0.68% |
| Kospi (South Korea) | 6,788.88 | -1.79% |
Carried verbatim from our Asia Market Wrap of 28 August 2026.
United States, 27 August close, for reference
| Index | Close | Change |
|---|---|---|
| Nasdaq Composite | 26,541.35 | +1.57% |
| Nasdaq 100 | 29,641.56 | +1.43% |
| S&P 500 | 7,730.99 | +0.72% |
| Russell 2000 | 3,014.34 | +0.28% |
| Dow Jones Industrial Average | 53,569.44 | +0.20% |
Carried verbatim from our US Market Wrap of 27 August 2026.
Why it matters: On our reading the day’s information sits in the sectors rather than in the index levels. A board on which every index rises but the range is under a point looks like a broad move, while a 3.14 percentage point spread between automobiles and healthcare says the buying was selective. That distinction matters to anyone holding a European index tracker, because the tracker captured the narrow part and not the wide one. The sovereign curve carries the other point worth noting: on Friday’s levels France pays 2.8 basis points more than Italy to borrow for ten years, on our calculation, so France is the more expensive of the two to lend to for a decade. The dollar index gained 0.54 percent on a day silver fell 3.82 percent and gold 2.92 percent.
Outlook: Whether the automobile sector holds a lead of that size into Monday is the first test, and the answer will show whether Friday was a rotation or a single day. The French and Italian ten year yields are close enough that the ordering could reverse on a small move in either, so the spread rather than either level is the number to watch. In commodities, Friday’s final settlements will show whether the metals selloff deepens or steadies once the dollar stops moving.
Sources: Euronext, STOXX, BME, Borsa Italiana, the London Stock Exchange, SIX and Nasdaq for ten of the European closes; CNBC for the DAX and Stoxx Europe 600 closes and for the sector indices, sovereign yields, commodities and currencies captured at 17:37 GMT on 28 August 2026; Dubai Financial Market, market announcement of 24 August 2026; The Edge, Middle East and US Market Wraps of 27 August 2026 and Asia Market Wrap of 28 August 2026.
