Spreadex Market Update

FTSE at 4-month peak, DAX above 11200, Dow Jones set to near 25600



Investors gave the FTSE a Valentine’s Day kiss on Thursday, allowing the index to hit a 7200-surpassing 4-month high.

The FTSE more sidled up to its fresh peak than soared towards it, adding 0.3% thanks to strong post-earnings performances from AstraZeneca and Micro Focus International. Also working in the FTSE’s favour was the pound’s 0.2% dip against both the dollar – cable’s now at a one-month low – and the euro, the currency fretting ahead of the day’s Brexit debate in the Commons.

Like the FTSE, the Eurozone indices used the residual trade war optimism that has been driving markets higher to push forward on Thursday. The DAX crossed 11200 with a 0.3% increase, while the CAC jumped beyond 5110 as it rose a morning-leading 0.7%.

Turning to this afternoon and, with today seeing the meeting between Treasury Secretary Steve Mnuchin, Trade Representative Robert Lighthizer and Vice Premier Liu He, the Dow Jones is set for a rather timid start. Still, the forecast 0.2% increase keeps it at a 2-month-plus high, and leaves it only a handful of points away from 25600.

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