While the eurozone indices shock off their initial dollar-inspired sluggishness, the FTSE couldn’t reverse its early fall as Tuesday went on.
Losses from BHP Billiton (LON:BLT), Rio Tinto (LON:RIO) and BP (LON:BP) helped prevent the UK index from joining its peers in the green as lunchtime approached. Well that and the pound’s growth against the dollar, with cable climbing 0.4% to tickle $1.283 for the first time in close to a fortnight. This left the FTSE down around 30 points, nipping its hopes of holding above 7600 in the bud as it trickled back below 7575.
The DAX and CAC, on the other hand, made their peace with the euro’s $1.15-crossing, 12 day-high hitting half a percent rise against the greenback. The German index jumped 70 points, returning to 12400 in the process, while its French sibling shot up 0.7% to reclaim 5400.
Turning to the afternoon and, with the dollar dealt a blow following Trump’s criticism of the Federal Reserve, the Dow Jones is set to continue its recently reignited quest to best January’s 26700-tickling all-time peak. The futures have the index adding another 60 points after the bell, a move that would put the Dow above 25800 and at levels not seen since February’s market-wide collapse as investors prepare for the latest round of trade talks between the US and China.
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