Though the Dow Jones failed to deliver on the promise of a big-time open, the FTSE held onto most of its growth on Monday.
The US index could only add 0.1% after the bell, unable to cross 26100 as suggested by the futures. Reports that Trump and Xi Jinping could meet at some point in March in what, on paper at least, would be a significant step towards easing the trade tensions between the 2 superpowers were treated with a certain level of wariness by investors, who are perhaps sick of speculation and rather more keen to see some actual action.
The pound completed an about-face on Monday, its initial 0.4% increase against the dollar transformed into a 0.1% decline as the afternoon went on, sterling softened up by news that the UK construction sector contracted in February. This left the FTSE’s early March rebound unchallenged, the index dancing around 7150 as it climbed 0.7%.
As for the Eurozone, the DAX remained a step behind its peers, rising just 0.2% against the CAC’s 0.7% increase. Despite its relative sluggishness, the German index still held above 11600, and is trading at an effective 4 and a half month peak.
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