30 Mar

European Markets Are Mixed Early on March 30

WRITTEN BY Val Kensington

United Kingdom

After gaining for two consecutive trading days, the United Kingdom’s FTSE index is weaker in the early hours on Thursday. The official start of Brexit is driving the market sentiment.

European Markets Are Mixed Early on March 30

The market is supported by the rise of shares related to the healthcare, consumer services, and energy sectors. British Prime Minister Theresa May is expected to publish a white paper today that explains the procedure to convert European law into United Kingdom law. The white paper is titled “Legislating for the United Kingdom’s withdrawal from the European Union.” Ashtead Group was the top gainer in the FTSE 100 in the morning session, while SSE was the top loser. The rally in Morrisons also supported the FTSE index on Thursday.

The iShares MSCI United Kingdom ETF (EWU) rose 0.12% on March 29. At 7:00 AM EST on March 30, the FTSE 100 index was trading at 7,356.50—a fall of 0.23%.

Germany

After rising to the highest levels since April 15, 2015, the Germany DAX index was stable in the morning session on Thursday. The market is looking forward to important Eurozone and US economic releases scheduled on March 30. The market is waiting for Germany’s consumer price index from March. It will be released at 8:00 AM EST. The market is also waiting for the release of US GDP. Economic releases can impact European markets today. The sentiment in the Germany markets was stronger due to strong German business confidence at beginning of the week. At 7:05 AM EST, the DAX index is trading at 12,204.25—a gain of 0.01%. The iShares MSCI Germany (EWG) closed the day at $28.78—a fall of 0.1% on March 29.

France

After rising to the highest levels since August 11, 2015, France’s CAC 40 index is slightly weaker in the morning session on Thursday. Political jitters in France along with lower risk appetite amid Brexit are weighing on the CAC 40 index. At 7:10 AM EST, France’s CAC 40 index moved to 5,065.02—a fall of 0.08%. The iShares MSCI France ETF (EWQ) fell 0.23% on March 29.

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