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European Markets Are Stable on April 26

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Apr. 26 2018, Updated 9:33 a.m. ET

United Kingdom

After gaining for six consecutive trading days, the United kingdom’s FTSE 100 Index pulled back on Wednesday. Carrying forward the weakness, the FTSE 100 Index opened lower on April 26 and traded with mixed sentiment in the morning session.

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Market sentiment

The market sentiment weakened on April 25 amid the increased sell-off in US markets due to rising bond yields. Following Asian markets’ weak performance, the FTSE 100 Index traded with a weak sentiment in the early hours. The market focus shifted to major corporate earnings releases scheduled for today. On the economic data front, according to UK Finance, the United Kingdom’s gross mortgage approvals decreased to 37,567 in March. Bank mortgage approvals declined 10%—compared to 38,035 recorded in February.

The market is looking forward to the release of April’s U.K. GfK Consumer Confidence data. The data are scheduled to be released at 7:01 PM EST today. At 5:50 AM EST today, the FTSE 100 Index was trading at 7,391.11—a gain of 0.16%. The iShares MSCI United Kingdom (EWU) declined 0.25% to $36.09 on Wednesday.

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Germany

Germany’s DAX 30 Index started this week on a stable note on Monday. However, the index lost strength and declined in the next two trading days. The dented global market sentiment amid a surge in US bond yields weakened Germany’s market sentiment. The DAX 30 Index opened lower on Thursday and traded with mixed sentiment in the morning session ahead of the ECB’s (European Central Bank) monetary policy decision. On the economic data front, according to Gfk, the Gfk German Consumer Climate Index for May decreased to 10.8—below the forecast of 10.9.

At 6:05 AM EST on April 26, the DAX 30 Index was trading at 12,441.86—a gain of 0.16%. The iShares MSCI Germany (EWG) declined 0.52% on Wednesday.

France

After a brief pullback on Wednesday, France’s CAC 40 Index opened higher on Thursday and traded with strength in the morning session. The CAC 40 Index is strong ahead of the ECB and Bank of Japan’s meeting. The ECB and the Bank of Japan are expected to keep the interest rates unchanged. At 6:10 AM EST on Thursday, the CAC 40 Index was trading at 5,437.23—a gain of 0.44%. The iShares MSCI France (EWQ) declined 0.31% on April 25.

Next, we’ll discuss how the US Dollar Index and Treasury yields performed in the early hours on April 26.

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