Spreadex Market Update
European indices continue to rally as American investors stuff themselves full of turkey
The day-long rebound from its oil and mining stocks meant that the FTSE could increase its growth this Thursday afternoon, jumping nearly 50 points to hit a fresh 20 day high and leaving it around 15 points away from the 6400 mark it had such trouble with throughout October. Tomorrow will likely provide a better test of the FTSE’s current gains than today’s figure-free trading, with the second estimate Q3 GDP set to be released. Analysts are forecasting an unchanged 0.5%, falling pretty much in the middle of the disappointing 0.3% first quarter growth and the healthy(ish) 0.7% GDP posted in Q2.
Despite (or perhaps because of) the fact that there was almost no new information to work with, the DAX only increased in fervour as Thursday continued, with its 160 point jump the latest step towards the German index recovering the China and Volkswagen inspired losses of August and September. The CAC, meanwhile, climbed by 60 points, now only another 50 point increase from hitting the 5000 mark once again. The German import prices and GFK consumer climate figures, alongside the French consumer spending numbers, are all the region has to offer tomorrow, though any more rumours about what Mario Draghi might be cooking up for next week’s ECB meeting will, one imagines, be much appreciated by Eurozone investors.
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