Getting that trade talks-rub, the Dow Jones leapt to its best price of 2019 so far on Monday, while the FTSE continued to absent itself from the celebrations.
Surging 175 points, the Dow found itself making eyes at 26200 for the first time since last November. More interestingly, the index is now around 700 points – a breeze for the Dow when it gets in the mood – off of October’s all-time peak, reflecting the trade optimism that has gradually, fragilely built up since the New Year began. The removal of the March 1st deadline is a big step; but a deal is yet to be signed, meaning the Dow can’t feel completely comfortable at its current highs.
With the US perky, the eurozone indices could continue their own mild growth. The DAX added 0.4%, enough to push it above 11500 and to similar 3 and a half month highs as the Dow; the CAC, meanwhile, nudged up by 0.2%.
The FTSE sat at the side of the party with its arms crossed, its day spoilt by a smattering of red in its mining sector, and pronounced slumps from Pearson (LON:PSON), Persimmon (LON:PSN) (which did, at least, trim is losses from 8%-plus to around 5%), Bunzl (LON:BNZL) and Royal Mail (LON:RMG).
As for the pound, despite the weekend’s Brexit twists and turns it wasn’t up to much, rising 0.1% against the dollar while sitting flat against the euro.
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