The markets remained very much in anticipation mode, any movements broadly kept to the minimum as investors await the outcome of Wednesday’s Brexit delay-deciding EU summit in Brussels.
The morning’s UK data largely ended up beating estimates. The latest monthly GDP reading avoided any nasty surprises at 0.2%, while the manufacturing and industrial production figures easily surpassed expectations at 0.9% and 0.6% respectively. Yet this only gave a mild boost to the pound, which rose 0.3% against the dollar and 0.2% against the euro, an increase that kept the FTSE flat at 7430.
The DAX and CAC were almost as quiet as their UK neighbour, with both indices adding 0.2% as Wednesday lunchtime approached. The region has an ECB rate vote and press conference to look forward to this afternoon.
The Dow Jones is set to remain the wrong side of 26200 after the bell rings on Wall Street, despite the futures pointing to a 30 point increase. That could change following March’s inflation reading, which is forecast to rise from 0.2% to 0.3% month-on-month.
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