The European markets were eerily quiet at the open, some mid-week tension ahead of Wednesday’s indicative Brexit votes and Thursday’s US-China trade talks in Beijing keeping investors from showing their hand.
Neither the FTSE nor sterling sought to do much after the bell. That’s partly because, though Wednesday is (another, ostensibly) big day in the Brexit process, the indicative votes likely won’t actually take place until 7pm this evening, meaning any reaction to the results will have to wait until Thursday morning.
That perhaps leaves currency and index alike unwilling to make any noise at this point in the session. The FTSE clung onto 7200 having climbed back there on Tuesday, while the pound unchanged against the dollar and the euro, a smidge below $1.32 and a tough above €1.171 respectively.
To be fair to the UK, the Eurozone was hardly a hotbed of excitement on Wednesday. The DAX and CAC were similarly unmoving following yesterday’s rebound, lurking at 11400 and 5300 but without a reason to build on their recent comeback. Perhaps Mario Draghi can spark well, something, with his ECB address in Frankfurt.
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