European Markets Are Stable Early on April 24


Apr. 24 2018, Published 8:15 a.m. ET

United Kingdom

The United Kingdom’s FTSE 100 Index gained for four consecutive trading weeks and started this week on a stronger note by rising to 11-week high price levels on Monday. Carrying forward the strength, the FTSE 100 Index opened higher on April 24 and traded at elevated levels in the morning session.

Article continues below advertisement

Market sentiment

The market sentiment has improved this week. The market’s focus shifted from geopolitical concerns to earning reports. The US’s softening stance on Russian sanctions improved the global risk appetite on Tuesday. The U.S. Department of the Treasury extended the deadline to October 23 for American companies to break their ties with Rusal. The U.S. Department of the Treasury is also ready to lift the sanctions on Rusal if Deripaska gives up control of the aluminum producer. On Tuesday, following Asian markets’ strong performance, the FTSE 100 Index started the day on a stronger note. The strong dollar is weighing on metal prices and stocks related to industrials and miners.

The market is looking forward to the release of April’s U.K. CBI Industrial Trends data. The data are scheduled to be released at 6:00 AM EST today. At 4:05 AM EST today, the FTSE 100 Index was trading at 7,420.24—a gain of 0.29%. The iShares MSCI United Kingdom (EWU) declined 0.06% to $36.25 on Monday.

Article continues below advertisement


After trading with strength for four weeks, Germany’s DAX Index started this week on a stronger note. On Tuesday, the DAX Index opened the day higher and traded with strength at 11-week high price levels in the morning session. Despite the release of weak economic data, the DAX Index is trading with strength due to the improved global market sentiment. According to the Ifo Institute for Economic Research, the Germany Ifo Business Climate Index declined to 102.1 in April, which is below the market’s forecast of 102.8.

At 4:15 AM EST on April 24, the DAX 30 Index was trading at 12,613.17—a gain of 0.32%. The iShares MSCI Germany (EWG) declined 0.36% on Monday.


France’s CAC 40 Index started this week on a stronger note by surging to the highest levels traded since February on Monday. However, the CAC 40 Index opened lower on Tuesday amid weak economic data. The index regained strength as the day progressed amid the improved global market sentiment. According to INSEE, the France Business Survey recorded a reading of 109 in April, which is less than the expected reading of 110.

At 4:20 AM EST on Tuesday, the CAC 40 Index was trading at 5,442.81—a gain of 0.08%. The iShares MSCI France (EWQ) declined 0.18% on April 23.

Next, we’ll discuss how the US Dollar Index and Treasury yields performed in the early hours on April 24.


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.