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European Markets Are Stable Early on May 17

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May. 17 2018, Published 10:38 a.m. ET

United Kingdom

The United Kingdom’s FTSE 100 Index started this week on a mixed note and moved higher as the week progressed. After moving higher on Wednesday, the FTSE 100 Index opened lower on Thursday, regained strength, and traded above opening prices in the morning session on May 17.

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Market sentiment

The market sentiment was weak at the beginning of trade on Thursday amid Asian markets’ weak performance. However, the sentiment improved and the FTSE 100 Index moved higher amid the weak pound and strong oil prices. In the morning session, Ocado rose more than 40% amid management’s move to partner with Kroger to enter US markets, which boosted the market sentiment. The market is looking forward to BoE Monetary Policy Committee member Haldane’s speech. The speech is scheduled for 12:00 PM EST today.

At 5:55 AM EST, the FTSE 100 Index is trading at 7,739.31 with a gain of 0.07%. The iShares MSCI United Kingdom (EWU) gained 0.35% to $36.88 on Wednesday.

Germany

Germany’s DAX 30 Index started this week on a weaker note but regained strength as the week progressed. After closing strong on Wednesday, the DAX 30 Index regained momentum and traded at the highest levels traded since the end of January in the morning session on May 17. With no major domestic economic releases scheduled for today, the market is focusing on earnings releases. The market is looking forward to the release of Germany’s producer price index data. The data are scheduled to be released on Friday.

At 6:15 AM EST on May 17, the DAX 30 Index was trading at 13,039.26—a gain of 0.33%. The iShares MSCI Germany (EWG) declined 0.09% on May 16.

France

Following a strong performance last week, France’s CAC 40 Index started this week on a mixed note but regained strength as the week progressed. The CAC 40 Index moved higher on Wednesday amid strength in the industrials, basic materials, and consumer goods sectors. On May 17, the CAC 40 Index opened higher and rallied to the highest levels traded since January.

At 6:20 AM EST on Thursday, the CAC 40 Index was trading at 5,590.76—a gain of 0.41%. The iShares MSCI France (EWQ) declined 0.06% on Wednesday. Next, we’ll discuss how US markets performed on May 16.

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