The United Kingdom’s FTSE 100 Index started this week on a weaker note by declining to one-week low price levels on Monday. The FTSE 100 Index opened higher on April 17 and traded with mixed sentiment near opening prices in the morning session.
The market sentiment improved on Tuesday amid decreased concerns about the US-led attack on Syria last week. The release of supporting economic releases on April 17 also boosted the FTSE 100 Index. According to the Office for National Statistics, the United Kingdom’s Average Earnings Index (with the bonus) grew 2.8% in February—less than the expected growth of 3%, but higher than the inflation reading of 2.7%. The sentiment improved as wage growth overtook inflation in February.
At 5:55 AM EST today, the FTSE 100 Index was trading at 7,221.25—a gain of 0.32%. The iShares MSCI United Kingdom (EWU) declined 0.25% to $36.19 on Monday.
After a brief pullback on Monday, Germany’s DAX Index opened higher on April 17 and surged to seven-week high price levels. The focus shifted from US-Russia tensions to first-quarter earnings reports and deals, which improved the sentiment across European markets. On the economic data front, according to ZEW, the Germany ZEW economic sentiment declined to -8.2, which is less than the forecast of -0.8. At 6:00 AM EST on April 17, the DAX 30 Index was trading at 12,503.40—a gain of 0.9%. The iShares MSCI Germany (EWG) gained 0.03% on Monday.
France’s CAC 40 Index started this week on a mixed note by declining 0.04% on Monday. However, the CAC 40 Index regained strength and opened higher on Tuesday following an overnight surge in US markets and the improved global risk appetite. In the morning session on Tuesday, the CAC 40 Index is trading with strength at seven-week high price levels.
At 6:05 AM EST on Tuesday, the CAC 40 Index was trading at 5,338.78—a gain of 0.49%. The iShares MSCI France (EWQ) gained 0.53% on April 16.
Next, we’ll discuss how US markets performed on April 16.