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Pre-Market Report: Global Markets Are Stable on April 25

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Part 2
Pre-Market Report: Global Markets Are Stable on April 25 PART 2 OF 3

Why Did the European Markets Extend the Rally?

United Kingdom

After rising higher on Monday amid the first round of France’s presidential election, the United Kingdom’s FTSE 100 index continued to trade higher in the morning session on Tuesday.

Why Did the European Markets Extend the Rally?

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The FTSE 100 index fell last week by breaking the important support level of 7,250. The index fell as low as 7,100 due to snap general elections. With the global relief rally triggered on Monday, the FTSE 100 reclaimed the 7,250 level and traded above it. However, the risk appetite in the United Kingdom market is less than other European markets considering the United Kingdom’s snap elections and mixed first quarter earnings results. The consumer goods sector is weaker on Tuesday amid 1Q17 corporate results. Speculations of a decrease in consumer confidence also acted against the FTSE 100 index.

Shares related to the mining sector are weaker on Tuesday. Increased regulations in China might impact copper demand, according to Goldman Sachs. The iShares MSCI United Kingdom ETF (EWU) rose 2% on April 24. At 7:00 AM EST on April 25, the FTSE 100 index was trading at 7,285.15—a rise of 0.28%.

Germany

After rising to all-time high price levels on Monday, Germany’s DAX index is stable at higher levels in the morning session on Tuesday. The German market is stable amid the global relief rally triggered by France’s presidential election on April 24. Global relief also pushed Wall Street indices higher on Monday. NASDAQ closed at record highs. Read S&P 500, Nasdaq, Dow Supported by Eased Geo-Political Tensions to learn more about the reasons behind the rally on Wall Street. At 7:10 AM EST, the DAX index was trading at 12,459.25—a gain of 0.02%. The iShares MSCI Germany (EWG) closed the day at $29.66—a gain of 4.7% on April 24.

France

After rising as high as 4.1% on Monday and reaching nine-year high price levels, France’s CAC 40 index is trading higher in the morning session on Tuesday. The market is looking forward to the run-off on May 7 between Emmanuel Macron of En Marche and Marine Le Pen of the National Front (FN). At 7:15 AM EST, France’s CAC 40 index moved to 5,291.50—a gain of 0.43%. The iShares MSCI France ETF (EWQ) rose 5.8% on April 24.

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