Though not quite as giddy as on Tuesday – not yet, at least – building optimism for a trade deal between the US and China ensured another positive start on Wednesday morning.
Now that the talks in Beijing have officially come to a close – one day later than expected, something that has been treated as hugely significant – investors are on tenterhooks to know what, if anything, was agreed between the two superpowers. So far there isn’t a lot to go on; however, the signs appear to be positive.
Ted McKinney, the US Under Secretary of Agriculture for Trade and Foreign Agricultural Affairs – OK, so not a Big Name – said that he thinks ‘they went just fine’, which investors will be hoping is a kind of Indianan understatement ahead of a potential joint statement from the nations.
The DAX added another half a percent as trading got underway, lifting it towards 10900, while the CAC also rose 0.5%, crossing 4800 in the process. The FTSE, on the other hand, could only climb 0.2%, leaving it short of the 6900 level it had briefly sprinted past after the bell; the UK index is being held back in part by the pound’s early gains, with cable rising 0.3% and sterling nudging 0.1% against the euro.
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