Last week, the United Kingdom’s FTSE 100 Index closed stronger and recorded the sixth consecutive weekly gain. The United Kingdom’s markets were closed on Monday for the early May Bank Holiday. The FTSE 100 Index opened higher on Tuesday and traded at the highest levels since January in the morning session.
After opening the day higher, the FTSE 100 Index didn’t maintain the strength amid the release of weaker-than-expected economic data. According to Halifax Bank of Scotland (HBOS), the U.K. Halifax House Price Index declined 3.1% in April, while the market expected the index to fall 3%. Lower crude oil prices ahead of President Trump’s announcement about the Iran nuclear deal weighed on the energy and mining sector. The market is looking forward to the release of U.K. BRC Retail Sales Monitor data. The data are scheduled to be released at 7:01 PM EST today.
At 4:45 AM EST today, the FTSE 100 Index was trading at 7,576.18—a gain of 0.12%. The iShares MSCI United Kingdom (EWU) gained 0.08% to $36.1 on Monday.
After gaining for six consecutive trading weeks, Germany’s DAX 30 Index started this week on a stronger note by rising to three-month high price levels. The release of strong earnings data pushed the DAX Index higher on Monday. However, the DAX 30 Index opened lower on Tuesday and traded with a weak sentiment in the morning session. There’s increased caution ahead of President Trump’s announcement about the Iran nuclear deal.
At 4:55 AM EST on May 8, the DAX 30 Index was trading at 12,883.68—a drop of 0.5%. The iShares MSCI Germany (EWG) gained 0.43% on May 7.
After a strong performance last week, France’s CAC 40 Index started this week on a stronger note. On Tuesday, the CAC 40 Index started the day on a weaker note and traded with weakness in the morning session. The decreased global risk appetite and lower crude oil prices are weighing on the CAC 40 Index in the morning session.
At 5:00 AM EST on Tuesday, the CAC 40 Index was trading at 5,513.54—a drop of 0.32%. The iShares MSCI France (EWQ) declined 0.37% on Monday.
Next, we’ll discuss how US markets performed on May 7.