Losing their way by the end of Tuesday, the European markets sighed their way through Wednesday’s open, seemingly at a loss about where to go next.
Perhaps waiting for some central bank sign-posting from the Jackson Hole Symposium – which starts on Thursday – investors weren’t keep on anything after the bell.
The FTSE – which at one point yesterday climbed towards 8180, only for an aggressive U-turn to leave it hovering above 6050 – slipped 0.2%, in part as a reaction to the pound shoring up its recent gains against the dollar and the euro.
The DAX, meanwhile, teased 13100 with a 0.1% increase, though that means news Germany is extending its furlough scheme barely moved the needle. That’s became the aid provided by such a move is tainted by the knowledge why an extension is needed in the first place.
Ending Tuesday down 60 points, the Dow Jones is facing another bland start to trading this afternoon. The projected 30 point decline would take the index under 28250 – still a pretty remarkable August rise, given the Dow opened the month at 26500.
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