It looked like investors were caught in the blazing transport chaos this Friday, leading to a pretty stagnant start to the session.
The FTSE started unchanged. The DAX started unchanged. The CAC dipped a handful of points, or, in other words, started unchanged. It appears that the indices have tired themselves out after Thursday’s overblown reaction to a dovish but a bit too hawkish at the same time statement from Mario Draghi.
There was a smidge more movement from the forex markets, but not by much. The pound was down 0.2% against the dollar, the realities of Boris Johnson’s hard Brexit Cabinet sinking in, sending cable back to 2-year-plus low territory. Against the euro, meanwhile, sterling was unable to recover any of the losses incurred in the last couple of sessions.
Vodafone (LON:VOD) was one of the morning’s biggest movers, leaping 7% after it revealed it would separate its mobile mast operations into a potentially listable entity, while former FT-owner Pearson (LON:PSON) was also perky, jumping 6% following a positive first half update
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