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European Markets Are Weak Early on August 17

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United Kingdom

Last week, the United Kingdom’s FTSE 100 Index fell in the last three trading days to a three-month low. The index started this week on a stronger note by rebounding on Monday. Amid improved market sentiment, the index continued to strengthen on August 15–16. On Thursday, the FTSE 100 Index started the day lower and traded below the opening hours in the morning session.

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Market sentiment

The market sentiment improved in the United Kingdom as geopolitical tensions between the US and North Korea subsided. Stronger-than-expected economic data released on Wednesday also pushed the market higher. On Thursday, the market sentiment was dented due to weaker sentiment in US markets. President Trump’s Strategic and Policy Forum disbanded due to the backlash from his remarks about protests in Charlottesville. On the economic data front, the United Kingdom’s retail sales rose 0.3%.

At 6:50 AM EST on August 17, 2017, the FTSE 100 Index was trading at 7,405.50—a fall of 0.37%. The iShares MSCI United Kingdom (EWU) rose 0.54% to $33.68 on August 16.

Germany

Amid the global market sell-off last week, Germany’s DAX fell. However, the index started this week on a stronger note and gained in the first three trading days of the week. With no German economic releases scheduled for today, the market opened lower due to weak global sentiment. In the morning session, the DAX Index was trading with weakness below opening prices. At 6:55 AM EST on August 17, the DAX was trading at 12,242.50—a fall of 0.18%. The iShares MSCI Germany ETF (EWG) rose ~0.55% on August 16.

France

After falling for three consecutive trading days amid weak global sentiment, France’s CAC 40 Index regained strength this week. It gained in the first three trading days of the week but opened lower on Thursday. Weakness in the banking sector is weighing on the CAC 40 Index in the morning session. At 7:00 AM EST on August 17, the index was trading at 5,161.50—a fall of 0.29%.

In the next part of this series, we’ll see how Wall Street performed on August 16.

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