Still optimistically waiting for the result of the US-China trade talks, the European markets couldn’t help but get carried away as Wednesday went on.
The FTSE, initially a laggard at the open, gradually beefed up its gains, with some serious growth from its commodities stocks, the erosion of the pound’s early rise, and a house builder rally sparked by a chipper update from Taylor Wimpey (LON:TW) resulting in a 50 point push for the UK index. That leaves the FTSE at 6930, a level last seen over a month ago and around 300 points higher than its Christmas season lows.
The Eurozone indices also saw their gains increase as lunchtime approached. The DAX has its foot in the door of 10900 after climbing 0.7%, though it might not be able to properly kick through until something more substantial trade-wise has been released, while the CAC held above 4800 as it jumped 0.8%.
At the moment the Dow Jones is looking a bit more reticent that its European peers. The futures have the index adding just 0.2% after the bell, though there is plenty of time for that to change as American investors start to wake up. The real gamer change, of course, will be some kind of statement on exactly what went down in Beijing, though the timing of any such announcement remains elusive.
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