uploads///Euro

European Markets Are Strong in the Morning Session on October 18

By

Oct. 18 2017, Published 8:33 a.m. ET

United Kingdom

The United Kingdom’s FTSE 100 Index gained for four consecutive trading weeks but started this week on a mixed note. After falling in the first two trading days this week, the FTSE 100 Index gained strength on Wednesday and started the day higher. In the morning session, the FTSE 100 Index is trading with strength near the opening prices.

Article continues below advertisement

Market sentiment

The market sentiment is mixed this week in the European markets as the risk appetite decreased amid Brexit talks. Due to strong inflation numbers, the FTSE 100 Index fell on Tuesday. Supported by high food and transport prices, the United Kingdom’s consumer price index rose 3% in September—the highest inflation level since April 2012. On Wednesday, the market opened higher amid strong US corporate earnings and a strong outlook on the United Kingdom’s 3Q17 corporate earnings. On the economic data front, according to the Office for National Statistics, the index tracks the United Kingdom’s average earnings including the 2.2% bonus recorded in August. It’s better than the market’s expected reading of 2.1%. However, it didn’t add momentum to the market on Wednesday.

The market is looking forward to the release of the United Kingdom’s September retail sales on October 19. At 6:30 AM EST on October 18, the FTSE 100 Index was trading at 7,538.50—a gain of 0.3%. The iShares MSCI United Kingdom (EWU) fell 0.48% on October 17.

Germany

After rising for six consecutive trading weeks, Germany’s DAX Index started this week stronger. However, the market pulled back on October 17 due to the decreased risk appetite. On Wednesday, the market opened higher and rose to record high price levels in the morning session. The strong market sentiment along with the pullback in the euro pushed the DAX Index higher.

At 6:35 PM EST on October 18, the DAX was trading at 13,058.75—a rise of 0.49%. On October 17, the iShares MSCI Germany ETF (EWG) fell ~0.15%.

France

Amid political uncertainties in the Catalonia region, France’s CAC 40 Index has been trading in a range since the beginning of October. On Wednesday, the market opened higher amid the strong global market sentiment and moved out of the range. In the morning session, the CAC 40 Index is trading with strength at the highest levels in five months. At 6:45 AM EST, the index was trading at 5,391.30—a gain of 0.56%. The iShares MSCI France (EWQ) fell 0.16% on October 17.

In the next part, we’ll discuss how US markets performed on October 17.

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.