United Kingdom

After pulling back last week, the United Kingdom’s FTSE 100 Index started this week on a weaker note. However, the FTSE 100 Index regained strength on Tuesday and opened the day higher. In the morning session, the FTSE 100 Index is trading with strength above opening prices.

European Markets Were Stronger Early on January 23

Market sentiment

The market pulled back last week amid increased caution in the market and profit-booking. The market sentiment improved at the beginning of this week due to the expectation of upbeat corporate earnings releases. However, the risk appetite declined on Monday and weighed on the market amid the US government shutdown. The risk appetite in European markets improved on Tuesday when the US government shutdown ended. On the economic data front, according to the Office for National Statistics, the United Kingdom’s public sector net borrowing in December declined to 0.98 billion pounds from 6.65 billion pounds in November.

At 5:00 AM EST today, the FTSE 100 Index was trading at 7,739.50—a gain of 0.31%. The iShares MSCI United Kingdom (EWU) rose 0.86% on January 22.

Germany

After regaining strength last week and surging to ten-week high price levels, the DAX Index started this week on a stronger note. On Tuesday, the DAX Index opened the day higher and traded at fresh record high price levels. There was improved hope for political stability amid votes for coalition talks. On the economic data front, according to ZEW, the Germany ZEW Economic Sentiment surged to 20.4 in January, which is higher than the forecasted reading of 17.8.

At 5:05 AM EST on January 23, the DAX Index was trading at 13,574.50—a rise of 0.82%. The iShares MSCI Germany (EWG) rose 0.62% on January 22.

France

After consolidating in a range for two weeks, France’s CAC 40 Index started this week on a stronger note. On Tuesday, the CAC 40 Index opened the day higher at decade-high price levels and traded with strength at elevated levels in the morning session. Increased expectations on upcoming corporate releases and the improved global growth outlook are supporting the CAC 40 Index.

At 5:15 AM EST today, the CAC 40 Index was trading at 5,547.00—a gain of 0.1%. The iShares MSCI France (EWQ) rose 0.6% on January 22.

In the next part, we’ll discuss how US Treasury yields and the US dollar performed in the early hours on Tuesday.

Latest articles

MedMen (MMNFF) (MMEN) closed 1.9% higher on Thursday. The company launched a 2020 ballot initiative called “Make it Legal Florida."

On Thursday, James Anderson of Baillie Gifford did an interview with Manager Magazin. Anderson discussed why he thinks Tesla could work without Musk.

Most consumer stocks are outperforming broader markets this year. Investors are flocking to consumer stocks amid fears about an economic downturn.

HEXO reported its third-quarter earnings on June 12. The company reported revenues of $13.0 million, which fell short of analysts’ estimate.

The Hot Chips 31 Symposium started this week. Artificial intelligence was the hot topic among participants Intel, NVIDIA, and Advanced Micro Devices.

Today, Slack (WORK) opened 4.5% higher after MKM Partners analyst Rohit Kulkarni gave Slack stock a "buy" rating with a target price of $40.