The United Kingdom
After gaining for three weeks, the United Kingdom’s FTSE 100 Index started this week on a mixed note by closing almost flat on Monday. On July 31, the FTSE 100 Index opened the day lower and was trading with mixed sentiment in the morning session.
The FTSE 100 Index lost strength on Monday due to the strong pound. On Monday, the pound was lifted by increased expectations of an interest rate hike by the Bank of England. Weakness in utility and technology companies weighed on the FTSE 100 Index. However, the FTSE 100 Index regained strength and closed the day almost flat amid the strong rebound in the telecom and financial sectors. In the morning session on July 31, the market is trading with mixed sentiment at elevated levels. The release of a stronger-than-expected earnings report from BP (BP) supported the FTSE 100 Index in the early hours.
At 4:35 AM EST, the FTSE 100 Index was trading at 7,710.33 with a gain of 0.13%. The iShares MSCI United Kingdom (EWU) rose 0.23% to $34.86 on Monday.
Germany’s DAX 30 Index closed lower on Monday and broke the two-day gaining streak. Carrying forward the weakness, the DAX 30 Index started July 31 on a weaker note and regained stability in the morning session. The release of stronger-than-expected retail sales data boosted the DAX 30 Index. According to Destatis, Germany’s retail sales grew 1.2% in June, which is better than analysts’ forecast of 1.1% growth.
At 5:00 AM EST, the DAX 30 Index was trading at 12,811.78—a gain of 0.11%. The iShares MSCI Germany (EWG) rose 0.13% on Monday.
After a brief pullback on Monday, France’s CAC 40 Index opened Tuesday on a mixed note. The CAC 40 Index was trading with mixed sentiment in the morning session on July 31. Corporate earnings are moving the CAC 40 Index in the morning session. On the economic data front, according to the French National Institute for Statistics and Economic Studies, France’s consumer price index was -0.1% in July, which was better than the expected reading of -0.2%.
At 5:10 AM EST on July 31, the CAC 40 Index was trading at 5,492.01—a gain of 0.01%. The iShares MSCI France (EWQ) rose 0.22% on Monday.
Next, we’ll discuss how Asian markets performed on July 31.