With seemingly little reason behind it, the European rebound gathered pace as Thursday went on – though it is worth noting, at the moment the Dow Jones isn’t looking quite as enthusiastic.
Despite Brent Crude and copper falling 0.7% and 0.9% respectively, the UK’s oil and mining stocks were, Antofagasta (LON:ANTO) aside, all in the green. Combine this with solid growth from its banks, and the FTSE shot up to 7220 as it clawed back 0.6% following yesterday’s nose dive. Still, barring some kind of miracle on Friday, it has been a rough month for the UK index, given that it started it at 7450.
The eurozone indices were in a similar state. The DAX just about re-crossed 11900 as it climbed half a percent, while the CAC was above 5220 thanks to a 0.6% rise.
In contrast, the Dow Jones is looking to add a mere 0.1% when the bell rings on Wall Street, leaving the index well short of 25200.That could, admittedly, be altered by the pre-open first quarter GDP reading, though considering growth is expected to be revised from 3.2% to 3.1% at the annualised rate, the change might not be positive.
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