Determined to end the week strong, the European markets (broadly) bounded higher on Friday morning.
Despite Commerce Secretary Wilbur Ross claiming that the US and China are ‘miles and miles’ from reaching a trade agreement, there were some big numbers posted by the euro-zone; the DAX jumped 180 points to hit 11300 for the first time since the start of December, while the CAC crossed 4900 as it rose 0.8%.
Even with a decent rebound from its commodity stocks the FTSE couldn’t muster the same enthusiasm, instead rising a meagre 0.2%. That’s likely because of the pound’s overnight surge, sterling getting a boost from news that the DUP are prepared to support Theresa May’s Brexit plan B next week. Adding another 0.3%, cable crept ever closer to $1.31, and though it dipped 0.1% against the euro, sterling is still lurking around a 9 month peak €1.154.
Facing a 100 point-plus rise after the bell, the Dow Jones is almost back where it was this time last week, nudging towards the 24700 mark.
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