Reports that the US and China may reopen trade talks ignited Tuesday’s previously sluggish trading, with the FTSE arguably benefiting the most.
The UK index had spent most of the day chugging along with some fairly mild growth, prevented from taking off by a slew of disappointing earnings from some of its constituents. However, the latest suggestion that the world’s biggest superpowers are trying to avoid a full-blown trade war lifted the FTSE’s commodity and banking stocks, sending the index itself 60 points higher and allowing it to hit a fresh month and a half peak.
The Dow Jones, which had suffered a second dodgy session in a row on Monday, added 130 points after the bell, the US/China trade talk update propelling the index back towards 25450. The Dow potentially faces a test to hold onto that growth, however, given that Apple (NASDAQ:AAPL) posts its Q3 results on Tuesday evening.
Over in the Eurozone the mixed morning for Eurozone data, with a disappointing GDP reading countered by a decent inflation figure, meant the DAX couldn’t join in with the growth seen by its US and UK peers. Instead the German index slipped 10 points, ducking under 12800 in the process.
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