The United Kingdom
After declining for four consecutive trading weeks, the United Kingdom’s FTSE 100 Index started this week on a weaker note. Carrying forward the weakness, the FTSE 100 Index opened lower on June 19 and was trading with weakness at five-week low price levels in the morning session.
The FTSE 100 Index closed Monday with limited losses amid support from oil stocks. The rise in crude oil supported energy stocks and triggered a rally in oil stocks on Monday. On June 19, the European markets opened the day lower amid escalating US-China trade war concerns. The Trump Administration warned about increasing the import tariffs on $200 billion worth of Chinese goods by 10%. The move is a retaliation after China announced 25% import tariffs on US goods worth 50 billion that would take effect on July 6. With no major UK-related economic releases scheduled for today, the FTSE 100 Index is expected to be influenced by the global market sentiment and movements in US markets for the rest of the day.
At 4:40 AM EST, the FTSE 100 Index was trading at 7,570.75 with a drop of 0.79%. The iShares MSCI United Kingdom (EWU) fell 0.5% to $35.78 on Monday.
Germany’s DAX 30 Index closed higher last week and started this week on a weaker note by pulling back on Monday. Maintaining the weakness, the DAX 30 Index opened lower on June 19 and was trading with weakness at the lowest levels traded this month in the morning session. Escalating US-China trade war concerns dented the European market sentiment and weighed on the DAX 30 Index.
At 4:45 AM EST, the DAX 30 Index was trading at 12,632.47—a drop of 1.6%. The iShares MSCI Germany (EWG) fell 1.5% on Monday.
After declining for two days, France’s CAC 40 Index opened lower on Tuesday and was trading at two-month low price levels in the morning session. US and Asian markets’ weak performance amid US-China trade war concerns is weighing on the CAC 40 Index. At 4:50 AM EST on June 19, the CAC 40 Index was trading at 5,381.45—a drop of 1.3%. The iShares MSCI France (EWQ) fell 1.1% on Monday.
Next, we’ll discuss how Asian markets performed on June 19.