Spreadex Market Update

FTSE climbs as pound dips on negative Brexit deal headlines, Dow closes at record high



After a busy Thursday, including another record-high close for the Dow Jones, the markets were still rubbing sleep from their eyes at the start of Friday’s trading.

Following a few days of lagging behind its peers, the FTSE was the only index with any energy after the bell, climbing half a percent. That as the pound issued orders for a mild retreat, pulling back 0.2% against the dollar and 0.1% against the euro.

Sterling is once again trying to parse contradictory Brexit deal headlines. They started to err on the side of the negative this morning, however – after Boris Johnson stated that talks were in a very ‘serious situation’, Michel Barnier has said that the UK and EU have ‘just a few hours’ to work out an agreement.

In the Eurozone, the DAX added 0.2% as it shored up its recent 10 month highs, while the DAX added 0.3% to sit just under 5,670.

Closing above 30,300 last night, the Dow Jones currently doesn’t have much pencilled in for this afternoon. It is likely waiting for an update on stimulus negotiations – the deadline was meant to be this evening, but might now be pushed to over the weekend, after disagreements regarding the future of the Federal Reserve’s crisis management.

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