Spreadex Market Update
Empty Friday morning sees FTSE and DAX trickle lower as busy week begins to wrap up
With Brent Crude now just above the $49 per barrel mark have ascended to post-$50 year highs yesterday the FTSE lacked any reason to rise this Friday, instead dipping around 10 points lower as the European session got underway. Still, the UK index is on for a pretty fantastic week given the state of its data (namely that worrisome GDP report on Thursday), now sitting at, perhaps undeserved, 3 week highs.
Over in the Eurozone things weren’t any better. Having surged above 10250 for the first time in May the DAX fell by around 30 points this Friday, while the CAC dropped by a similar 0.3%. It seems that the Greek-bailout-goodwill that has driven the region higher in the past few days has finally run out of steam, leaving the Eurozone indices with little option but to dip into the red.
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