European Markets Are Stable Early on March 13
After regaining strength last week, the United Kingdom’s FTSE 100 Index started this week on a mixed note. The FTSE 100 Index pulled back on Monday and broke the five-day gaining streak. Carrying forward the weakness, the FTSE 100 Index opened lower on Tuesday and traded near opening prices in the morning session.
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The market sentiment reversed this week amid increased concerns about US import tariffs on steel and aluminum. Mining stocks moved lower on Monday and weighed on the market. On Tuesday, following the decline in US markets and Asian markets’ mixed performance, the FTSE 100 Index opened the day lower. The risk appetite decreased ahead of the first spring forecast statement by United Kingdom Chancellor Philip Hammond at 7:30 AM EST today.
At 4:25 AM EST today, the FTSE 100 Index was trading at 7,212.00—a drop of 0.07%. The iShares MSCI United Kingdom (EWU) fell 0.11% to $35.03 on Monday.
After closing Monday at two-week high price levels, Germany’s DAX 30 Index started Tuesday on a mixed note. Increased caution in the market ahead of US inflation data and concerns about import tariffs are weighing on the DAX Index in the morning session. German markets are looking forward to inflation data. The data are scheduled to be released on March 14.
At 4:30 AM EST on March 13, the DAX Index was trading at 12,426.98—a gain of 0.07%. The iShares MSCI Germany (EWG) gained 0.46% on Monday.
After closing Monday almost flat, France’s CAC 40 Index opened higher on Tuesday and traded with stability above opening prices in the morning session. The release of better-than-expected payrolls data supported the market. According to INSEE, France’s non-farm payrolls grew 0.3% in the last quarter, which is in line with the market expectations. At 4:35 AM EST today, the CAC 40 Index was trading at 5,294.41—a gain of 0.34%. The iShares MSCI France (EWQ) rose 0.03% on Monday.
Next, we’ll discuss how US markets performed on March 12.