The FTSE was the sole major holdout on Monday, the rest of its peers eventually rising following the announcement of the USMCA deal over the weekend.
Though still just about in the red, the UK index did at least improve as the morning went on. It re-crossed 7500 having at its worst points dipped back towards 7460, with a smattering of losses in its mining and banking sectors, a sharper decline from its housebuilders, and a 3%-plus drop from easyJet (LON:EZJ) preventing it from doing any better.
As for the pound, it couldn’t make much of the unexpected manufacturing PMI rebound. Instead sterling sat flat against both the dollar and the euro, recovering its minor early losses against the former while shedding its initial gains against the latter.
The eurozone was far perkier, even if it did take the region a bit of time to embrace the positivity. The CAC just about pushed back above 5500 as it rose 0.2%, with the DAX jumping half a percent to reclaim 12300; that does, however, only just about takes the edge off of last Friday’s Italian deficit-inspired decline.
Turning to this afternoon and the Dow Jones is preparing itself for a very strong start to October. The futures have the US index surging more than 200 points when the bell rings on Wall Street, as investors celebrate the removal of one conflict from the USA’s trade war portfolio. That jump would send the Dow back above 26650, and leaves it within reach of a fresh all-time high if investors really take to the NAFTA-replacing United States-Canada-Mexico Agreement.
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