Shaking off a muted start, the European markets indulged in some light gains for brunch, while sterling remained wary in the run-up to Wednesday’s EU summit.
Hitting a fresh 6-month peak of 7465 following a 0.4% increase, the FTSE benefited from some decent growth in its financial sector, where its banks were up anywhere between 0.8% and 1.5%. The pound, on the other hand, was basically unchanged against both the dollar and the euro, flitting about as it digests the latest Brexit comments, like Michel Barnier’s suggestion that the EU might not grant the UK a long Article 50 extension without a shift towards a customs union.
The Eurozone indices were a tad less perky than the FTSE, but still pushed slightly higher. The DAX rose 0.2%, but couldn’t re-hit 12000, while the CAC climbed 0.3% to graze 5480.
Looking to this afternoon, and following yesterday’s 100 point fall, the Dow Jones is set for another slow open, the momentum from last week remaining absent. It appears that the Dow is sitting about waiting for another proper US-China trade talk update before it continues its recent rally.
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