Though the forex markets remained quiet, the pound specifically holding steady until it hears exactly what kind of extension the UK will ask for from the EU, the global indices were feeling bouncy.
Largely matching the growth managed in Europe, the Dow Jones jumped half a percent, lifting it above 26050 for the first time in over a fortnight. As well as the momentum from the morning session, the positive trade talk noise from US Agriculture Secretary Sonny Perdue, carried over from Monday night, appears to be helping the Dow with its Tuesday gains.
After a very slow start the DAX emerged as the session’s biggest winner. Following on from a set of far, FAR better than expected ZEW economic sentiment readings, the German index shot up 130-plus points, allowing it to tickle 11800 for the first time in 5 months. The CAC, meanwhile, added half a percent as it crossed 5400.
As for the FTSE, it maintained a 0.5% increase from the start of the day, an increase that allowed the UK index to push past 7300, a level last seen in October. The mining sector was, for the second session in a row, a friend to the FTSE, this time led by the dividend-boosting Antofagasta (LON:ANTO).
Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.
In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved.