Spreadex Market Update
Housing sector slide prevents FTSE from joining DAX and CAC in the green
Now down just 12 points the UK index has admittedly seen its losses shrink as the morning continued. However, a spooked housing sector (with Berkeley seeing its decline accelerate to nearly 7%) and a weary set of commodity stocks are preventing the FTSE from joining its Eurozone counterparts on the green side of the gains/losses divide.
Those Eurozone indices have shaken off their early reticence to plough ahead with a respectable set of gains this Thursday. The DAX is now up half a percent, crossing 10700 for the first time since the last day of trading in 2015, while the CAC is the morning’s best performing major index with a 0.7% rise.
Even the Dow Jones is looking a bit perkier this Thursday, the futures pointing to a 50 point jump after the bell. That does, however, still leave the index stuck under 18550, marking the 4th session or rather lateral movement. There is a bit of data that could inspire a bit more growth from the Dow, though it is hard to see investors showing too much joy at a likely slide in import prices (from 0.2% to -0.2% month-on-month).
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