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Pre-Market Report: Global Markets Are Mixed on September 13

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Part 2
Pre-Market Report: Global Markets Are Mixed on September 13 PART 2 OF 4

European Markets Are Mixed Early on September 13

United Kingdom

After falling last week, the United Kingdom’s FTSE 100 Index started this week on a stronger note by rising on Monday. Despite a strong start, the market pulled back on September 12 and started Wednesday on a weaker note. In the morning session on September 13, the FTSE 100 Index is trading with weakness below the opening prices.

European Markets Are Mixed Early on September 13

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Market sentiment

The United Kingdom’s markets started this week amid improved global market sentiment. Hurricane Irma’s downgrade in the US and the absence of a missile launch test from North Korea increased the risk appetite in European markets this week. However, the market sentiment is weak on Wednesday. The pound rose to the highest levels in 2017 before the US jobs data. On the domestic economic data front, according to the Office for National Statistics, the U.K. Average Earnings Index +Bonus in July rose 2.1%—less than analysts’ forecast of 2.2%. On the other hand, the United Kingdom’s Claimant Count Change fell by 2,800 in July, while the unemployment rate fell to 4.3% in August.

The United Kingdom’s markets are looking forward to the Bank of England’s interest rate decision and the release of its Monetary Policy Committee meeting minutes at 7:00 AM EST on September 14. At 6:35 AM EST, the FTSE 100 Index is trading at 7,387.75—a fall of 0.17%. On September 12, the iShares MSCI United Kingdom (EWU) rose 0.49% and closed at 34.63.

Germany

After rising for six consecutive trading days, Germany’s DAX Index started Wednesday on a weaker note. Profit-booking and weakness in the healthcare, basic materials, and consumer goods sectors weighed on the market. Weakness in Apple’s (AAPL) suppliers after the new smartphone models launched also weighed on the market on Wednesday. At 6:40 AM EST, the DAX Index was trading at 12,534.00—a rise of 0.07%. On September 12, the iShares MSCI Germany ETF (EWG) rose ~0.25%.

France

After starting this week on a stronger note and rising in the first two trading days, France’s CAC 40 Index started Wednesday on a mixed note. European markets pulled back on Wednesday amid the strong pound and profit-booking, which weighed on the CAC 40 Index in the morning session. At 6:45 AM EST, the index was trading at 5,213.50—a rise of 0.09%. The iShares MSCI France (EWQ) rose 0.53% on September 12.

In the next part of this series, we’ll see how the US Dollar Index and US Treasury yields are performing in the early hours on September 13.

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