Last week, the United Kingdom’s FTSE 100 Index fell in the last four trading days and recorded the second consecutive weekly decline. Despite the fall, the FTSE 100 Index started this week on a stable note and traded with strength in the morning session on Monday.
On Monday, the sentiment improved in the European markets amid a strong rally in Asian markets. The Asian markets rose on Monday due to China’s strong new loans data. Decreased concerns about North Korea also improved the market sentiment. On Monday, the rally in the stocks related to industrials and oil and gas supported the FTSE 100 Index. On Friday, the FTSE 100 Index fell to the lowest levels since April 28 due to a rise in the pound. On Monday, the pound’s momentum decreased and gave the FTSE 100 room to recover. The market is looking forward to Bank of England Governor Carney’s speech at 11:00 AM EST today.
At 6:15 AM EST, the FTSE 100 Index is trading at 7,230.25—a rise of 0.2%. On September 15, the iShares MSCI United Kingdom (EWU) rose 0.06% and closed at 34.53.
After rising for two consecutive trading weeks, Germany’s DAX Index started this week on a stronger note. It opened higher on Monday amid a rally in the Asian markets and traded with strength in the morning session. The market is supported by the energy and automobile sectors in the morning session. The market is looking forward to the release of German ZEW Economic Sentiment data at 5:00 AM EST on September 19. At 6:20 AM EST, the DAX Index was trading at 12,554.00—a rise of 0.28%. On September 15, the iShares MSCI Germany ETF (EWG) rose ~0.22%.
After a strong performance last week, France’s CAC 40 Index is strong in the morning session on Monday. Ahead of the Fed’s meeting and President Trump’s speech at the United Nations, the global markets are strong due to the improved market sentiment. At 6:30 AM EST, the index was trading at 5,228.50—a rise of 0.28%. The iShares MSCI France (EWQ) rose 0.07% on September 15.
In the next part, we’ll discuss how Wall Street performed on September 15.