Spreadex Market Update

FTSE spring-boards off bent back of Brexit-weary pound to hit 7400, 6-month peak



Though the Dow Jones did little to help the European indices, the FTSE et al. carried their strong midday performance in the afternoon.

Unable to maintain the stupendous energy that took it from the end of March into the start of April, the Dow dipped 60-ish points after the bell, causing the index to duck back under 26200. Still, that leaves the Dow near enough to yesterday’s 6-month peak, with room to grow if the week’s US-China trade talks in Washington turn out to be fruitful.

The Eurozone indices, which were very slow out of the gates, really picked up the pace as the day went on. The CAC was firmly the right side of 5400 following its 0.4% increase, while the DAX was giving 11800 the eye as it added just over 90 points.

Tuesday’s clear winner, the FTSE climbed more than 1%, spring-boarding off of the bent back of a Brexit-weary pound to hit 7400 for the first time in 6 months. All its major sectors were in the green, including a tidy little showing from the banking stocks. Still waiting for the outcome of Theresa May’s Cabinet meetings, sterling was down around half a percent against the euro and the dollar, desperate for signs that the UK isn’t going to stumble into a no-deal nose dive on April 12th.

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