European Markets Are Mixed Early on April 16
The United Kingdom’s FTSE 100 Index gained for three consecutive trading weeks but lost the upward momentum at the end of last week. The FTSE 100 Index started Monday on a mixed note and consolidated near opening prices in the morning session.
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The FTSE 100 Index closed last week on a mixed note as investors digested US banks’ corporate earnings reports. On Monday, the market’s risk appetite is low following a missile attack by the US, the United Kingdom, and France on Syria over the weekend. The market is mixed in the early hours as Russia warned about consequences following the missile attacks. With no major domestic economic releases scheduled for today, the market is expected to be driven by the global market sentiment. The market is looking forward to the release of February’s employment data. The data are scheduled to be released on Tuesday.
At 4:25 AM EST today, the FTSE 100 Index was trading at 7,250.70—a drop of 0.19%. The iShares MSCI United Kingdom (EWU) rose 0.08% to $36.28 on Friday.
Germany’s DAX 30 Index opened higher on Monday following a strong performance for three weeks. The DAX 30 Index is trading with mixed sentiment below opening prices in the morning session on Monday amid the decreased global market risk appetite. On the economic data front, according to Destatis, Germany’s Wholesale Price Index (WPI) grew 1.2% in March, which is less than the forecast of 1.5%.
At 4:30 AM EST on April 16, the DAX 30 Index was trading at 12,438.61—a drop of 0.02%. The iShares MSCI Germany (EWG) gained 0.27% on Friday.
After surging to six-week high price levels and closing last week stronger, France’s CAC 40 Index started this week on a mixed note. The CAC 40 Index started Monday on a mixed note following attacks on Syria and consolidated in the morning session. At 4:35 AM EST on Monday, the CAC 40 Index was trading at 5,311.07—a drop of 0.08%. The iShares MSCI France (EWQ) gained 0.12% on April 13.
Next, we’ll discuss how the US Dollar Index and Treasury yields performed in the early hours on Monday.