After falling for four consecutive trading days, the United Kingdom’s FTSE 100 Index regained some stability on Friday. On June 16, the FTSE 100 Index started higher and traded with upward momentum in the early hours.
Political uncertainty in the United Kingdom dented the sentiment this week. There was decreased risk appetite after the Fed increased interest rates. European markets opened higher on Friday amid news about Greece’s bailout. Reports about Eurozone lenders helping Greece with its 8.5 billion euros of debt improved the sentiment in the Eurozone. At 6:50 AM EST on June 16, the FTSE 100 Index was trading at 7,470.50—a gain of 0.69%. The iShares MSCI United Kingdom (EWU) fell 0.82% and closed at 33.86 on June 15.
After losing momentum and trading with weakness for two consecutive trading days, Germany’s DAX Index regained strength on Friday. On June 15, the DAX Index lost strength amid weakness in the resource and retailers sectors. The DAX Index opened higher on Friday amid Greece’s bailout news. The market was also supported by a rise in financial stocks. At 6:55 AM EST, the DAX Index was trading at 12,726.25—a gain of 0.27%. The iShares MSCI Germany (EWG) fell 1.7% and closed at 30.93 on June 15.
Similar to other major European indices, France’s CAC 40 Index opened higher on Friday. There’s caution in the market. Participants are looking forward to the second round of France’s Parliamentary elections on June 18. At 7:00 AM EST, the CAC 40 Index was trading at 5,255.30—a gain of 0.72%. In the next part, we’ll discuss Wall Street’s performance on June 15.