After gaining for seven consecutive trading weeks, the United Kingdom’s FTSE 100 Index started this week on a mixed note by trading with a mixed sentiment on Monday. On May 15, the FTSE 100 Index opened the day lower but regained strength and traded above opening prices in the morning session.
The market sentiment was weak on Monday amid political uncertainty in Italy and a lack of economic releases to drive the market. The FTSE 100 Index opened lower due to Asian markets’ weak performance on Tuesday. However, the market regained strength following the release of jobs data. According to the Office for National Statistics, the United Kingdom’s unemployment rate remained unchanged at a 42-year low of 4.2% in March. The United Kingdom’s employment change in the last three months was 197,000—compared to the same period last year. The unemployment change is more than the expected reading of 129,000.
At 5:20 AM EST, the FTSE 100 Index is trading at 7,718.10 with a gain of 0.09%. The iShares MSCI United Kingdom (EWU) gained 0.19% to $36.84 on Monday.
Following a strong performance last week, Germany’s DAX Index started this week on a weaker note and opened lower on Monday. The market is maintaining weakness in the morning session on Tuesday amid the release of weaker-than-expected economic data. According to Statistisches Bundesamt Deutschland, Germany’s GDP grew 0.3% in 1Q18, which is less than the expected growth of 0.4%. According to Zentrum für Europäische Wirtschaftsforschung (ZEW), the Germany ZEW Economic Sentiment declined to -8.2 in May, which is less than expected reading of -8.0.
At 5:25 AM EST on May 15, the DAX 30 Index was trading at 12,957.19—a drop of 0.16%. The iShares MSCI Germany (EWG) declined 0.18% on May 14.
After closing Monday on a mixed note, France’s CAC 40 Index opened lower on May 15 and traded with strength above opening prices in the morning session. The release of stronger-than-expected inflation data is supporting the CAC 40 Index on Tuesday. According to the French National Institute for Statistics and Economic Studies, France’s consumer price index grew 0.2% in April, which is less than the expected growth of 0.1%.
At 5:35 AM EST on Tuesday, the CAC 40 Index was trading at 5,546.00—a gain of 0.1%. The iShares MSCI France (EWQ) gained 0.06% on Monday.
Next, we’ll discuss how US markets performed on May 14.