Following Wednesday’s gains – which included the Dow Jones getting in a fresh all-time high before its Independence Day break – the markets appeared to pause on Thursday.
Though it dipped a handful of points, the FTSE held above 7600 after the bell. That means the UK index is at its best price for over 10 months, benefiting not only from the trade truce-celebrating start to July, but the pound’s Brexit-related data woes.
Speaking of sterling, without any PMIs on the cards the currency largely avoided another round of losses. Nevertheless, cable is at a 2-week low – something that could turn into a 6-month nadir with only a little push – while against the euro, the pound is stuck under €1.115, meaning it has shed more than 5% in the space of 2 months.
As for the Eurozone indices, without the prospect of a mood-setting US session this afternoon they kept fairly quiet. The DAX added 0.2% to give it a bit of breathing room above 12600, with the CAC unchanged at a 5600.
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