Spreadex Market Update
FTSE maintains gains as Brent Crude rebound gathers pace
"The UK miners received their own boost in the form of President Xi Jinping’s announcement of a $900 billion ‘Belt and Road’ infrastructure initiative, the Chinese chief seeking to recapture the ‘glory of the ancient Silk Road’."
It wasn’t just the oil stocks in the green, however; the UK miners received their own boost in the form of President Xi Jinping’s announcement of a $900 billion ‘Belt and Road’ infrastructure initiative, the Chinese chief seeking to recapture the ‘glory of the ancient Silk Road’. This helped the likes of Rio Tinto and Anglo American continue their comeback, keeping up with the growth seen by BP and Shell.
While the DAX initially matched the all-time high-hitting growth of the FTSE, the German index eventually ran out of steam, instead falling into the red by around 25 points. The CAC also saw its gains dissipate, though the French index managed to remain flat just below 5380.
Looking to the US open and, with only the Empire State manufacturing index on offer, the Dow Jones doesn’t appear too interested in doing much after the bell. The Dow futures are suggesting a 20 point rise, which would once again see the index above 20900, but currently without the conviction to take it any further.
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