The US indices indulged in the same hopes as their European peers on Monday, perhaps prematurely celebrating signs of coronavirus stabilisation from around the world.
The Dow Jones started big, adding 1000 points as it re-crossed 22000. It will be interesting if it can substantially push past that level in the next few sessions. For the last week or so it has been trading between 21000 and 22000, unable to find justification for a foray above the latter, yet not so shocked by America’s growing unemployment crisis to fall through the former.
With the Dow in high spirits, the Eurozone indices beefed up their own growth. As Germany draws up plans to end its lockdown after April 19th, the DAX surged more than 500 points, propelling the bourse back above 10000. Following the US open, meanwhile, the CAC levelled up its own gains enough to hit 4340 as it rose 4.5%.
Trailing its US and Eurozone buddies, the FTSE climbed 140 points, somewhere between its opening highs and lunchtime intraday lows. Brent Crude’s 3.4% fall, and the subsequent losses for BP (LON:BP) and Shell (LON:RDSa), clipped the index’s wings. As did the fact that the UK is still far behind its European cousins in terms of the crisis timeline (admittedly that reasoning doesn’t explain why the Dow is so high given the US is far and away the leader in coronavirus cases
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