After rising for ten consecutive trading days, the United Kingdom’s FTSE 100 index pulled back in the early hours on Thursday. At 5:15 AM EST on January 12, the FTSE 100 was trading at 7,274.25—a fall of 0.23%. The retail sector weighed on the index after retail supermarket chains announced disappointing Christmas business data.
The lack of clarity on upcoming US fiscal policies in Donald Trump’s news conference dented the market sentiment. It was Trump’s first news conference since US presidential election. The market expected him to talk about his policies on tax reforms and industrial spending. The iShares MSCI United Kingdom ETF (EWU) rose 0.74% on January 11.
After consolidating for six consecutive trading days at the highest levels since August 2015, Germany’s DAX index rose on Wednesday. However, DAX failed to maintain the momentum and pulled back in the early hours on January 12. At 5:25 AM EST, the DAX index is trading at 11,600.5—a fall of 0.39%. Uncertainty amid Trump’s lack of comments about his election promises is weighing on the market. On the other hand, the rally in commodities supported the metals and mining sector and the index. The iShares MSCI Germany ETF (EWG) rose 0.97% to $27.08 on January 11.
After closing flat on Wednesday, France’s CAC 40 index fell in the early hours on January 12. At 5:30 AM EST on January 12, the CAC 40 index was trading at 4,878—a fall of ~0.22%. Weakness in the health care sector is weighing on the CAC 40 index. Trump’s comments on high drug prices dented the sentiment in the health care sector and weighed on the market. The iShares MSCI France ETF (EWQ) fell 0.15% on January 11.