Despite the prospect of the ECB cutting its monthly QE in half – admittedly while also extending it well into 2018 – the Eurozone indices were in a pretty good mood this Thursday.
The DAX climbed 0.4%, with the CAC up more than half a percent. The biggest gains came from the Spanish IBEX, which surged 1.1% as it was reported that Catalonia may hold regional elections in December, potentially delaying a declaration of independence. Meanwhile the euro maintained a 0.3% rise against the euro, and a slightly less robust 0.1% increase against the dollar.
Over in the UK the FTSE was just as perky, clawing back around 30 points (the index is still stuck the wrong side of 7500, however). That’s because the pound spent the morning giving back a chunk of Wednesday’s rate hike-eyeing gains after the CBI retailing reported sales reading for October fell off a cliff, ominously hitting its worst level since March 2009.
Looking to this afternoon and, having fallen around 100 points from its highs, the Dow Jones is set for a slow start to the US session, with the futures pointing to a 0.1% increase when the bell rings on Wall Street. There isn’t a lot for the US to deal with this Thursday, the most interesting item being Amazon's (NASDAQ:AMZN) third quarter earnings release this evening.
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