The United Kingdom
The United Kingdom’s FTSE 100 Index closed higher on Thursday and clocked the third consecutive daily gain. Carrying forward the strength, the FTSE 100 Index started July 20 on a stable note. The index was trading with strength at more than one-month high price levels in the morning session.
The FTSE 100 Index maintained its strength amid the improved market sentiment. On Friday, the weaker pound is supporting the FTSE 100 Index. Uncertainty about Brexit and concerns about the general elections are weighing on the pound. The weaker pound boosts exporters’ performance and supports the FTSE 100 Index. On the economic data front, according to the Office for National Statistics, the UK public sector net borrowing increased to 4.53 billion pounds in June—higher than the expected net borrowing of 3.5 billion pounds.
At 4:45 AM EST, the FTSE 100 Index was trading at 7,701.14 with a gain of 0.22%. The iShares MSCI United Kingdom (EWU) fell 0.43% to $34.49 on Thursday.
Germany’s DAX 30 Index declined on Thursday and broke the five-week gaining streak. Weakness in the basic resources, chemicals, and software sectors weighed on the DAX 30 Index. Maintaining the weakness, the DAX 30 Index opened lower on Friday. The index was trading with mixed sentiment in the morning session. Profit-booking also weighed on the DAX 30 Index. According to Destatis, Germany’s producer price index grew 3% YoY in June, which was better than the expected growth of 2.9%.
At 4:55 AM EST, the DAX 30 Index was trading at 12,689.09—a gain of 0.02%. The iShares MSCI Germany (EWG) fell 0.58% on Thursday.
France’s CAC 40 Index declined on Thursday amid weakness in materials and industrials stocks. On Friday, the CAC 40 Index opened lower and was trading with mixed sentiment in the morning session. The release of mixed earnings reports and concerns about the US-led trade war are weighing on the CAC 40 Index.
At 5:00 AM EST on July 20, the CAC 40 Index was trading at 5,408.11—a drop of 0.17%. The iShares MSCI France (EWQ) fell 0.49% on Thursday.
Next, we’ll discuss how Asian markets performed on July 20.