European Markets Opened Higher amid Improved Global Sentiment

The United Kingdom’s FTSE 100 Index broke its four-week losing streak last week by posting moderate gains. It opened this week higher on Monday and trading with strength in the morning hours.

Better-than-expected US non-farm payrolls released on Friday improved the sentiment in global markets. European markets opened with positive sentiment on July 10. Strength in the banks and utilities sectors supports the FTSE 100 Index. The market is looking forward to the release of British Retail Consortium (BRC) Retail Sales Monitor data 7:01 PM EST.

At 6:10 AM EST on July 10, the FTSE 100 Index was trading at 7,375.75—a gain of 0.34%. The iShares MSCI United Kingdom ETF (EWU) remained unchanged at $33.19 on July 7.

After regaining stability last week, Germany’s DAX Index opened higher and traded with strength in the morning session on Monday. Apart from improved global sentiment, better-than-expected German economic data supported the DAX Index. In May, imports and exports were better than the market’s expectations. According to Deutsche Bundesbank, Germany’s exports rose 1.4% in May, while exports rose 1.2%. The market is looking forward to the release of Germany’s inflation data on July 13.

At 6:20 AM EST on July 10, DAX was trading at 12,450.50—a rise of 0.5%. The iShares MSCI Germany ETF (EWG) rose 0.46% and closed at $30.32 on July 7.

France’s CAC 40 Index quit falling last week and traded in a range of 5,200–5,100. This week, it opened higher amid improved global sentiment. The index is trading with strength in the morning session. According to the Bank of France’s survey, the French economy will perform in line with previous estimates in 2H17. The survey results also improved the market sentiment. At 6:30 AM EST, the CAC 40 Index was trading at 5,161.80—a rise of 0.32%.

In the next part, we’ll discuss Wall Street’s performance on July 7.