Trade tensions be damned! Following in the footsteps of its European colleagues, the Dow Jones rocketed higher as the bell rang on Wall Street.
Climbing 200 points, the Dow crossed 24800 for the first time in a week, despite little improvement in the things – namely Trump slapping tariffs on metals imports from the EU, Mexico and Canada, alongside stalled talks with China – that helped drive it lower in the first place.
This growth allowed the gains in Europe to continue, even if they were way off of their morning peak. The FTSE settled for a half a percent rise, a slight pull back that left it the wrong side of 7750. As for the eurozone, the region was pretty mixed. The DAX, which had one point tickled 12850, ended up with a 0.3% increase, one that left it at 12760; elsewhere the CAC’s growth shrank to 0.2%, while the IBEX 35 was still up by 1.2% but with the FTSE MIB actually slumping into the red by 0.5%.
In terms of the forex markets, the euro was the day’s winner, still benefiting from the positive end to last week’s political turmoil. Against the dollar the single currency rose 0.4%, taking it above $1.17, while against sterling it saw a 0.3% increase, allowing it to clamber back to £0.876.
Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.
In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved.