In stark contrast to Monday’s torpid trading, the European markets let rip on Tuesday, bounding higher despite some worrisome data out of the region.
Led by BP's (LON:BP) 5.5% rise, the FTSE shot up more than 100 points as the day went on, striking 7130-plus levels last seen in early November. This as sterling fell a further 0.3% against the dollar, taking it to a 2 week low that’s perilously close to $1.30, and 0.2% against the euro as the services PMI, which came in at a comatose 50.1, completed a hat-trick of Brexit-burdened data out of the UK.
Like the FTSE, the Eurozone indices were in a hell of a good mood. The DAX triumphantly returned to last week’s 11300 highs following a 150 point surge, while the CAC tickled 5050 after its own 1.2% climb.
The Dow Jones is set to be a bit calmer when trading opens this afternoon, the futures pointing to a relatively mild 0.3% increase. That would, however, still lift the index above 25300, and see it seemingly ignore the losses out-of-hours losses that greeted Alphabet’s fourth quarter results on Monday night.
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