The United Kingdom
The United Kingdom’s FTSE 100 Index regained stability on Thursday and closed the day almost flat. Carrying forward the strength, the FTSE 100 Index opened higher on July 27 and was trading with strength in the morning session.
Second-quarter earnings reports supported the FTSE 100 Index on Thursday. On Friday, the FTSE 100 Index opened higher despite the mixed global market sentiment. The FTSE 100 Index shrugged off US markets’ overnight decline. The US markets were impacted by the slump in Facebook (FB). The European market sentiment improved after the US agreed to work with the European Union towards a “zero tariff” deal. The market is looking forward to the second-quarter US GDP data. The data are scheduled to be released today.
At 4:35 AM EST, the FTSE 100 Index was trading at 7,681.22 with a gain of 0.24%. The iShares MSCI United Kingdom (EWU) fell 0.94% to $34.71 on Thursday.
Germany’s DAX 30 Index rose to five-week high price levels on Thursday amid the improved market sentiment. Automakers rose and boosted the DAX 30 Index after the US agreed to stop imposing import tariffs on European cars. Carrying forward the strength, the DAX 30 Index opened higher on Friday and was stable at elevated levels in the morning session. On the economic data front, according to Destatis, the Germany Import Price Index rose to 0.5% in June, which was better than expected reading of 0.2%.
At 4:40 AM EST, the DAX 30 Index was trading at 12,828.29—a gain of 0.15%. The iShares MSCI Germany (EWG) fell 0.26% on Thursday.
After closing higher on Thursday, France’s CAC 40 Index opened lower on Friday and was trading with mixed sentiment. The CAC 40 Index lost strength amid the release of weaker-than-expected economic data. According to the National Institute for Statistics and Economic Studies, France’s GDP grew 0.2% in the second quarter—weaker than the forecast of 0.3% growth. France’s consumer spending rose 0.1% in June—less than the forecast of 0.6% growth.
At 4:45 AM EST on July 27, the CAC 40 Index was trading at 5,480.36—a drop of 0.01%. The iShares MSCI France (EWQ) fell 0.98% on July 26.
Next, we’ll discuss how Asian markets performed on July 27.