European Markets Are Strong Early on December 4
After pulling back last week, the United Kingdom’s FTSE 100 Index started this week on a stronger note by opening higher on Monday. In the early hours on December 4, the FTSE 100 is trading with strength around the opening prices.
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The FTSE 100 Index fell in the last three trading days amid dented global market sentiment along with the release of the United Kingdom’s weaker-than-expected economic data. In addition to these factors, the delay in the US tax reform bill also weighed on the FTSE 100 Index last week. However, the sentiment has improved and the FTSE 100 Index rebounded today. The tax reform bill was passed by the US Senate early on Saturday. The United Kingdom’s market is looking forward to the release of retail sales data by the British Retail Consortium at 7:01 PM EST today.
At 4:15 AM EST today, the FTSE 100 Index was trading at 7,356.25—a gain of 0.76%. The iShares MSCI United Kingdom (EWU) fell 0.26% on December 1.
After falling to two-month low price levels last week, Germany’s DAX Index started this week on a stronger note. The DAX Index opened higher on Monday amid the improved market sentiment. Positive sentiment about Brexit and the US tax reform bill improved the European market sentiment. The market is looking forward to the release of Germany’s services purchasing managers’ index data at 3:55 AM EST on December 5.
France’s CAC 40 Index fell in the last two trading days last week amid the dented market sentiment and closed the week with a loss. However, the CAC 40 Index regained strength on Monday and opened this week higher. The improved global market sentiment along with the European markets’ strength is supporting the CAC 40 Index in the morning session on Monday.
At 5:00 AM EST, the CAC 40 Index was trading at 5,360.50 with a gain of 0.89%. The iShares MSCI France (EWQ) fell 0.61% on December 1.
In the next part, we’ll discuss how US markets performed in the week ending December 1.