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European Markets Are Stable Early on July 17

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Updated

The United Kingdom

The United Kingdom’s FTSE 100 Index started this week on a weaker note by declining on Monday. Carrying forward the weakness, the FTSE 100 Index opened lower on July 17 and moved higher as the day progressed.

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Market sentiment

The FTSE 100 Index fell on Monday amid Brexit uncertainty and weakness in oil and mining stocks. However, the FTSE 100 Index rebounded in the morning session on Tuesday. The index was trading with mixed sentiment. The market is also supported by stability in crude oil prices in the early hours. Crude oil prices declined sharply on Monday but started to rebound in the early hours on Tuesday. On the economic data front, according to the Office for National Statistics, the U.K. Claimant Count Change was 7,800 in June, which is higher than the forecast of 2,300. The Claimant Count Change measures the change in the number of unemployed people in the United Kingdom.

The market is looking forward to the release of inflation data. The data are scheduled to be released on Wednesday. At 4:30 AM EST, the FTSE 100 Index was trading at 7,608.01 with a gain of 0.10%. The iShares MSCI United Kingdom (EWU) fell 0.63% to $34.83 on Monday.

Germany

Germany’s DAX 30 Index started this week on a stable note by closing higher on Monday and clocked the third consecutive daily gain. The strong performance of the food and beverages, transportation and logistics, and technology sectors supported Germany’s market on Monday. However, the DAX 30 Index opened July 17 on a mixed note and was trading with mixed sentiment in the morning session. The energy sector regained strength amid the rebound in crude oil prices in the early hours.

At 4:35 AM EST, the DAX 30 Index was trading at 12,550.93—a drop of 0.08%. The iShares MSCI Germany (EWG) rose 0.52% on Monday.

France

After pulling back on Monday, France’s CAC 40 Index opened Tuesday on a weaker note and declined in the early hours. Weakness in the basic materials, oil and gas, and utilities sectors weighed on the CAC 40 Index on Monday. On Tuesday, the CAC 40 Index regained strength and moved higher as the day progressed amid a recovery in the energy sector.

At 4:40 AM EST on July 17, the CAC 40 Index was trading at 5,409.66—a gain of 0.01%. The iShares MSCI France (EWQ) gained 0.13% on Monday.

Next, we’ll discuss how Asian markets performed on July 17.

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