The United Kingdom
The United Kingdom’s FTSE 100 Index started this week on a mixed note and traded in a range throughout the week. The FTSE 100 Index declined on Wednesday amid the weak market sentiment. However, the FTSE 100 Index opened higher on July 26 and was trading with mixed sentiment in the morning session.
The FTSE 100 Index declined on Wednesday amid weakness in mining and cyclical stocks. On July 26, the FTSE 100 Index opened higher amid the release of stronger-than-expected second-quarter earnings reports. The market is looking forward to the European Central Bank’s (ECB) interest rate decision that’s scheduled to be released at 7:45 AM EST today. President Trump and European Commission President Jean-Claude Juncker agreed to work towards a “zero tariff” deal, which improved the market sentiment.
At 4:45 AM EST, the FTSE 100 Index was trading at 7,658.91 with a gain of 0.01%. The iShares MSCI United Kingdom (EWU) rose 0.14% to $35.04 on Wednesday.
Germany’s DAX 30 Index declined on Wednesday ahead of the meeting between European Commission President Jean-Claude Juncker and President Trump on trade policies. Weakness in the technology, consumer, and cyclical sectors weighed on the DAX 30 Index. However, the DAX 30 Index opened higher on Thursday and rose to one-week high price levels. Automakers rallied after President Trump agreed not to impose tariffs on European cars sold in the United States. As a result, the DAX 30 Index rose in the morning session on July 26.
At 5:05 AM EST, the DAX 30 Index was trading at 12,754.45—a gain of 1.39%. The iShares MSCI Germany (EWG) rose 0.81% on Wednesday.
France’s CAC 40 Index declined on Wednesday amid the mixed market sentiment. Weakness in the basic materials, financials, and technology sectors weighed on the CAC 40 Index on Wednesday. However, the CAC 40 Index opened higher on Thursday and was trading with strength at six-week high price levels. On the economic data front, according to INSEE, France’s consumer confidence remained unchanged at 97 in July, which is less than the expected reading of 98. The sentiment improved on Thursday when the US and European Union agreed to lower import tariffs.
At 5:15 AM EST on July 26, the CAC 40 Index was trading at 5,465.37—a gain of 0.72%. The iShares MSCI France (EWQ) gained 1.05% on July 25.
Next, we’ll discuss how Asian markets performed on July 26.