The FTSE’s rebound gathered pace as Thursday went on, a general uptick in sentiment across the boards alongside a (very) slight recovery from Brent Crude after yesterday’s plunge allowing the index to move towards 7650.
Climbing 60 points the FTSE benefited from the black stuff, which had fallen 6% overnight as Libya said it would up its supply, avoiding carrying its fearful form into Thursday. Though it wasn’t a lot, Brent Crude nudging back above $74.50 appeared to help the UK index on its way, with BP (LON:BP) and Shell (LON:RDSa) rising 0.4% and 0.6% respectively. The FTSE also likely benefited from the pound doing absolutely nothing, sterling nervous as it waits for the Brexit white paper.
Over in the eurozone things also improved lunchtime approached. Both the DAX and CAC rose half a percent, picking themselves up and dusting themselves off after Wednesday’s trade war-gripped trading. Still to come is the ECB meeting minutes, which may come to impact Thursday’s gains dependent on how the euro reacts to the release.
Turning to this afternoon and the Dow Jones is set to join its European peers in the green, with the futures pointing to a 150 point increase. That would push the Dow back above 24850, and actually see it chase a fresh 3 week-plus high.
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