The United Kingdom
The United Kingdom’s FTSE 100 Index started this week on a weaker note but regained strength as the week progressed. After closing higher on Wednesday, the FTSE 100 Index started July 19 on a stronger note. The index was trading with strength at four-week high price levels in the morning session.
The FTSE 100 Index closed higher on Wednesday amid the improved market sentiment. On Thursday, the FTSE 100 Index is supported by the weaker pound. The release of weaker-than-expected retail sales data sent the pound to ten-month low price level and boosted the FTSE 100 Index. According to the Office for National Statistics, UK retail sales declined 0.1% in June. Analysts expected retail sales to increase 0.1%. On the other hand, the weakness in miners is weighing on the FTSE 100 Index in the morning session.
At 5:00 AM EST, the FTSE 100 Index was trading at 7,694.78 with a gain of 0.25%. The iShares MSCI United Kingdom (EWU) fell 0.06% to $34.64 on Wednesday.
After gaining for two weeks, Germany’s DAX 30 Index started this week on a stronger note and gained in the first three trading days of the week. However, the DAX 30 Index opened lower on Thursday and was trading with mixed sentiment in the morning session. Profit-booking at elevated levels and mixed earning reports are weighing on the DAX 30 Index in the morning session on Thursday.
At 5:10 AM EST, the DAX 30 Index was trading at 12,720.62—a drop of 0.35%. The iShares MSCI Germany (EWG) rose 0.1% on Wednesday.
France’s CAC 40 Index rose to one-month high price levels on Wednesday. However, the CAC 40 Index opened lower on Thursday and was trading with weakness in the morning session. Concerns about the US-led trade war and profit-booking at one-month high price levels are weighing on the CAC 40 Index in the morning session. At 5:15 AM EST on July 19, the CAC 40 Index was trading at 5,425.38—a drop of 0.4%. The iShares MSCI France (EWQ) fell 0.13% on Wednesday.
Next, we’ll discuss how Asian markets performed on July 19.