After a strong performance last week, the United Kingdom’s FTSE 100 Index started this week on a mixed note and regained strength as the week progressed. On Wednesday, the FTSE 100 Index opened the day on a stable note and traded at four-month high price levels in the morning session.
The market sentiment improved on Tuesday amid the release of the United Kingdom’s strong jobs data. The FTSE 100 Index opened lower on May 16 following the US and Asian markets’ weak performance. Strength in mining stocks and the strong performance of the United Kingdom’s tech giant Micro Focus in the morning session boosted the FTSE 100 Index to multimonth high price levels. The market is looking forward to European Central Bank President Draghi’s speech. The speech is scheduled to start at 8:00 AM EST today.
At 6:15 AM EST, the FTSE 100 Index is trading at 7,725.50 with a gain of 0.03%. The iShares MSCI United Kingdom (EWU) declined 0.27% to $36.74 on Tuesday.
After gaining for seven consecutive trading weeks, Germany’s DAX Index started this week on a weaker note and declined in the first two trading days of the week. However, the DAX 30 Index opened higher on May 16 and traded with strength in the morning session. Strong earnings reports are supporting the DAX 30 Index on Wednesday. The weak global market sentiment is limiting the market gains. At 6:25 AM EST on May 16, the DAX 30 Index was trading at 13,000.99—a gain of 0.24%. The iShares MSCI Germany (EWG) declined 0.73% on May 15.
After closing higher last week, France’s CAC 40 Index started this week on a stable note and moved higher as the week progressed. On Tuesday, the CAC 40 Index moved higher amid strength in the healthcare and oil and gas sectors. The market is maintaining caution in the morning session amid rising US bond yields and geopolitical tensions involving North Korea. At 6:30 AM EST on Wednesday, the CAC 40 Index was trading at 5,548.55—a drop of 0.09%. The iShares MSCI France (EWQ) declined 0.7% on Tuesday.
Next, we’ll discuss how US Treasury yields and the US Dollar Index performed in the early hours on May 16.