The United Kingdom’s stock exchanges are closed on December 27 for Boxing Day. The United Kingdom’s FTSE 100 index closed last week at 7,068.17 with a gain of 0.81%. It posted gains for three consecutive trading weeks.
Last week, the European markets started the week with two terror attacks—the assassination of Russia’s ambassador to Turkey and a truck crashing into a Christmas market in Germany. However, markets shrugged off the terror attacks. Volumes were thin ahead of the Christmas holidays. In addition to these factors, concerns about the Italian banking sector also decreased the risk appetite in the markets. The iShares MSCI United Kingdom ETF (EWU) rose 0.16% on December 23.
After rising for three consecutive trading weeks and reaching the highest levels since August 2015, Germany’s DAX index is slightly higher in the early hours. At 4:45 AM EST on December 27, the DAX index is trading at 11.5—a gain of ~0.14%. Volumes are thin after the Christmas holidays. Last week, the DAX index moved higher due to support from business confidence data. According to data released by the IFO Institute for Economic Research, Germany’s Business Climate Index rose to 111.0 in December. It’s better than November’s value of 110.4 and the market forecast of 110.7. The iShares MSCI Germany ETF (EWG) rose 0.15% to $26.31 on December 23.
After rising for three consecutive trading weeks, France’s CAC index is higher in the early hours. There are jitters in the banking sector. Monte Dei Paschi, one of the largest Italian banks, must raise 8.8 billion euros by the end of the year to avoid state intervention. At 5:00 AM EST on December 27, the CAC index was trading at 4,847.30—a gain of 0.15%. The iShares MSCI France ETF (EWQ) rose 0.25% on December 23.