Eurozone aside things began to peter out somewhat this Monday afternoon, with the US open failing to inject its usual burst of goodwill.
With little to process the Dow Jones took a breather from its recent record-breaking run, instead slipping 30 points after the bell to linger around 25250. The drop likely in part stems from the dollar showing against the pound and euro, though there is also a healthy dose of weariness after last week’s sprint above 25000.
As for the FTSE, the UK index failed to keep above 7700 as the day went on, reversing its early gains to fall 0.1%. A dip into the red from the oil and pharma stocks, the continued 17% decline from Micro Focus (LON:MCRO) and a 3 week peak for the pound against the euro proved to be too much for the UK index, which still hasn’t quite found the momentum needed to break away from that aforementioned landmark 7700 level.
Only the eurozone indices didn’t have a hangover from last week’s New Year’s party, with both the DAX and CAC rising by more than half a percent. That’s because, despite further signs that confidence is strong in the region, the euro had one of its worst days in quite a while, falling 0.7% against the dollar and 0.6% against the pound, a boost to eurozone exporters that had been unhappy with the currency’s recent rise.
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