With no major wobbles the European markets seemed intent on clinging onto another day of rebounding gains.
Keeping at or around a one-week-plus high of 5750, the FTSE rose 170 points. The index benefited from Brent Crude itself climbing 3%, ensuring growth for BP (LON:BP) and Shell (LON:RDSa). Even better was the FTSE 250, which climbed close to 7% to hit 15800.
Though hard to justify given the situation in the UK, the FTSE was riding a wave of positivity emanating from the continent, and Monday’s super-surge from the Dow Jones. The DAX lurked just under 10500 as it added 400 points, while the CAC was 20 or so points away from 4500 thanks to a 3% increase.
Considering the size of Monday’s gains, the Dow Jones could get away with a quiet one this Tuesday. Instead it is looking to add another 800 points; if that rise comes to fruition, it would push the Dow above 23400 for the first time in 4 weeks. It would also leave the index at a something of a mid-point between the 18000-approaching lows struck in late-March, and the 29500 all-time highs posted in mid-February.
"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."