European Markets Are Strong Early on April 27

Val Kensington - Author

Apr. 27 2018, Published 8:10 a.m. ET

United Kingdom

After a brief pullback on Wednesday, the United Kingdom’s FTSE 100 Index regained strength and closed higher on April 26. Carrying forward the strength, the FTSE 100 Index opened higher on Friday and traded at three-month high price levels in the morning session.

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Market sentiment

The FTSE 100 Index rose on Thursday. The euro fell after the European Central Bank retained the interest rates. On Friday, the FTSE 100 Index opened strong following the up move in US and Asian markets. The pound’s rise following the United Kingdom’s GDP data boosted the FTSE 100 Index in the morning session. According to the Office for National Statistics, the United Kingdom’s GDP grew 1.2% in 1Q18, which is below the forecast of 1.4%. The market is looking forward to Bank of England Governor Carney’s speech. The speech is scheduled to start at 10:00 AM EST.

At 4:55 AM EST today, the FTSE 100 Index was trading at 7,455.46—a gain of 0.45%. The iShares MSCI United Kingdom (EWU) rose 0.78% to $36.37 on Thursday.


After breaking the two-day losing streak on Thursday, Germany’s DAX 30 Index opened higher on Friday and traded with strength in the morning session. The euro’s decline and the improved global market sentiment are supporting the DAX 30 Index on Friday. On the economic data front, according to Destatis, Germany’s unemployment change in April declined by 7,000—disappointing compared to analysts’ forecast of a decline by 15,000.

At 5:00 AM EST on April 27, the DAX 30 Index was trading at 12,594.32—a gain of 0.75%. The iShares MSCI Germany (EWG) gained 0.4% on Thursday.


France’s CAC 40 Index rose on Thursday amid the improved sentiment and strong performance in the consumer services, utilities, and oil and gas sectors. Carrying forward the strength, the CAC 40 Index opened higher on Friday and traded at 12-week high price levels in the morning session. On the economic data front, according to the National Institute for Statistics and Economic Studies, France’s GDP rose 0.3% in 1Q18—below the forecast of 0.4%.

At 5:05 AM EST on Friday, the CAC 40 Index was trading at 5,460.90—a gain of 0.13%. The iShares MSCI France (EWQ) gained 0.4% on April 26.

Next, we’ll discuss how US markets performed on April 26.


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