The US open helped the European indices maintain their lunchtime rebound, with the Dow Jones jumping back towards Monday’s intraday highs.
Rising 150 points, the Dow Jones just about re-crossed 24850 on Thursday; and at points it pushed even further, briefly moving beyond the 24900 it had hit at the start of the week. If it can maintain these levels until the end of the session then it’ll be the Dow’s best close in 3 and a half weeks. However, that may be a tough task, with a wild Donald Trump on the loose in London, spouting his mouth off on a variety of issues.
Despite Brent Crude abandoning its meagre gains to drop back below $74 per barrel, the FTSE still managed to ride the wave of (somewhat inexplicable) positive energy that swept through the Western indices on Thursday. Maybe the relief that Trump deemed it ‘presently unnecessary’ for the US to quit NATO was enough to get the good news-hungry markets off the ground.
The UK index climbed 60 points as the day went on, nudging past 7650, with the DAX up 0.3% and the CAC rising 0.6%. The pound, meanwhile, was unmoved by the release of the Brexit white paper, effectively unchanged against both the dollar and the euro.
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