Post-US open the markets managed to trim their losses to just a handful of points, Monday’s initially rocky trading flattening out as the day went on.
The Dow Jones only dipped 0.2% after the bell, a move that just about kept it above 25000, but left it lacking the momentum that propelled it higher across the first 2 to 3 weeks of July. The index seemed relatively unbothered by both the tense nature of the weekend’s G20 meeting in Buenos Aires, and Donald Trump’s all-caps Twitter attack on Iran, instead drifting about like its European peers.
Over in the Eurozone things were broadly unchanged from where they were at lunchtime. The CAC couldn’t shake its early decline, dipping under 5400 following a half a percent decline, while the DAX slipped 0.2%, sitting the wrong side of 12550.
As for the FTSE – which was at one point down 0.7% – it cut its losses to 15 points, keeping the index in its now familiar 7650 to 7700 trading bracket. On the data front this week is pretty damn empty for the UK; the corporate calendar, on the other hand, is overstuffed, with nearly a fifth of the FTSE 100 reporting. It’ll be interesting whether the index can substantially climb above 7700 with a bit of help from its big-hitters, or if the earnings-mess prevents it from gathering any momentum.
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