A fairly uneventful session allowed the Western indices to push higher, with the Dow Jones climbing to a fresh 3 week peak.
Rising 140 points, the Dow Jones crossed the 24900 mark for the first time since 19th May. The main driver of the index’s recent growth appears to be a lack of trade war escalation in the last week or so. And while that may sound odd given that Friday saw the tariff tit-for-tatting between the US and China, those measures were well-trailed, and since then there hasn’t been anything to cause another macro-wobble.
Over in the Eurozone the region’s indices benefited from the euro’s poor performance. The single currency has struggled in light of a trade war-hit pair of dismal ZEW economic sentiment readings, dropping 0.3% against the dollar and 0.4% against the pound. This in turn meant that the DAX and CAC could climb 0.6% and 0.5% respectively, taking the German index back above 12600.
As for the FTSE, the UK index couldn’t quite match the growth seen elsewhere, posting a disappointing 0.1% increase. That did, however, still keep the FTSE above 7700, and at an effective 3 and a half week high.
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