European equity close: A week to forget as FTSE 100 flirts with some dangerous levels

Closing changes:

• Stoxx 600 -0.6%
• German DAX -0.6%
• FTSE 100 -0.6%
• French CAC -0.4%
• Italy MIB -0.4%
• Spain IBEX -0.1%

Weekly:

• Stoxx 600 –2.3%
• German DAX -1.5%
• FTSE 100 -3.4%
• French CAC -2.3%
• Italy MIB -1.8%
• Spain IBEX -1.8%

The FTSE 100 is a bad day away from breaking the lows of the year. Bids in the last 90 minutes of trading today spared a close on the lows but that looks like position squaring rather than conviction buying.