The markets broadly managed to turn positive as Thursday went on, though not with any real gusto.
The FTSE was the only hold out, the index instead trickling 0.2% lower. That’s because the pound continued to have a spring in its step following Wednesday’s reports of a Brexit breakthrough between the UK and Germany. Against both the dollar and the euro it rose 0.3%, crossing $1.293 against the former while teasing €1.113 against the latter.
In the eurozone, meanwhile, there wasn’t a lot going on. The DAX continued to avoid dropping under 12000 after rising 0.1%, while the CAC rose 0.2%, still leaving it the wrong side of 5300.
Turning to the US open and the Dow Jones is set to nudge up by 0.1% after the bell, an increase that isn’t quite enough to return the index to 26000.
With the deadline for the public consultation period for Donald Trump’s latest set of tariffs on $200 billion in Chinese imports coming to an end this Thursday – meaning the rattled President is likely waiting with pen in hand to sign them off – Beijing has already stated it is ready to retaliate. If any of this comes to fruition this afternoon, then the tenor of trading could change pretty quickly.
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