The Dow Jones joined in with the European rally after the bell, adding 250 points as the markets let rip.
Setting aside Commerce Secretary Wilbur Ross’ claim that the US and China are ‘miles and miles’ away from a deal, a gap investors are hoping will be bridged following Vice Premier Liu He’s trip to Washington next week, the Dow crossed 24800 for the first time in 2019, hitting a level last struck in early December.
This followed on from a blockbuster session for the Eurozone. Despite the euro’s own gains – the single currency added 0.9% against the dollar while clawing 0.1% back against the pound – the DAX maintained its 1.6% increase, with the CAC expanding its own growth to 0.9%.
With the pound also up 0.8% against the greenback – sending cable to a 3 month peak of $1.316 on a mixture of that DUP Brexit-boost in the UK, and the Trump-wobbling FBI-arrest of Roger Stone in the US – the FTSE couldn’t pull off the same feat as its eurozone peers, instead actually slipping 0.1% to hit 6820. This even as its miners bounded higher, lifted by copper’s 2.5% comeback.
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