The United Kingdom’s FTSE 100 Index closed last week higher and recorded the eighth consecutive weekly gain. On May 21, the FTSE 100 Index opened higher and was trading at fresh record high price levels in the morning session.
The rally in oil prices boosted the market sentiment on energy stocks last week and pushed the FTSE 100 Index to record high price levels. On Monday, the improved global risk appetite amid decreased US-China trade war concerns improved the market sentiment in the United Kingdom’s markets. The decline in the pound to fresh lows this year boosted blue-chip stocks and supported the FTSE 100 Index.
At 5:10 AM EST, the FTSE 100 Index was trading at 7,844.92 with a gain of 0.84%. The iShares MSCI United Kingdom (EWU) declined 0.38% to $36.94 on Friday.
Last week, Germany’s DAX 30 Index closed above the important psychological level of 13,000 and clocked the eighth consecutive weekly gain. The weaker euro supported the DAX 30 Index last week. German markets are closed on May 21 for the “Whit Monday” holiday. Last week, the DAX 30 Index gained 0.59% and closed at 13,077.72. The iShares MSCI Germany (EWG) declined 0.39% on Friday.
After briefly pulling back on Friday, France’s CAC 40 Index opened higher on Monday and traded at the highest intraday levels since January 2008. The strong Asian market performance and reduced trade war concerns are supporting the CAC 40 Index in the morning session. At 5:30 AM EST on Monday, the CAC 40 Index was trading at 5,656.87—a gain of 0.75%. The iShares MSCI France (EWQ) declined 0.18% on Friday.
Next, we’ll discuss how the US Dollar Index and Treasury yields performed in the early hours on May 21.