European Markets Are Weak Early on November 10
After starting this week on a mixed note, the United Kingdom’s FTSE 100 Index lost strength as the week progressed. After falling to two-week low price levels, the FTSE 100 Index opened higher on Thursday but lost strength and traded at fresh two-week low price levels.
Interested in DAX-INDEX? Don't miss the next report.
Receive e-mail alerts for new research on DAX-INDEX
The market is weak amid the decreased risk appetite in the European markets. On Friday, uncertainty about US tax reform plans along with mixed economic data are weighing on the FTSE 100 Index. According to data released by the Office for National Statistics on Friday, the United Kingdom’s construction output fell 1.6% in September. The market was expecting a fall of 0.3%. On the other hand, the industrial production and manufacturing production rose 0.7% in September. The market is looking forward to the release of the NIESR GDP Estimate at 8:00 AM EST today.
At 5:35 AM EST today, the FTSE 100 Index was trading at 7,462.50 with a fall of 0.29%. The iShares MSCI United Kingdom (EWU) fell 0.23% on November 9.
Germany’s DAX Index started this week with dented sentiment and fell as the week progressed. The weaker-than-expected domestic economic data and weak sentiment in the European market weighed on the DAX Index this week. In the morning session on Friday, the DAX Index was trading with weakness at two-week low price levels. At 5:40 AM EST today, the DAX Index was trading at 13,165.50 with a fall of 0.14%. The iShares MSCI Germany ETF (EWG) fell 1.1% on Thursday.
After falling for four consecutive trading days, France’s CAC 40 Index started November 10 on a weaker note. The decreased risk appetite in the European markets and the dented market sentiment in the US and Asia are weighing on the CAC 40 Index. At 5:45 AM EST, the CAC 40 Index was trading at 5,392.80 with a fall of 0.28%. The iShares MSCI France (EWQ) fell 0.93% on November 9.
In the next part of this series, we’ll discuss how the US Dollar Index and Treasury yields performed in the early hours on November 10.