Equities shrug off trade war concerns
Heading into the close the FTSE 100 is flat on the day, having rebounded from the lows as the pound slides.
- Wall Street steadies equity markets on trade hopes
- Investors keep on buying the dip
- BoJo takes a step closer to No 10
Indices are finishing the week in the red in Europe, but have again rallied off the lows as the general recovery in risk goes on. US futures were pointing to sizeable losses on the open but since the open Wall Street has clawed back most of its initial losses. The reprieve on car tariffs is now an established fact, which helps to calm trade tensions at the ned of a week that has seen price action driven by this very concern. A quiet day for data has meant that markets have little to go on apart from the ups and downs of the US-China spat, but the past week has pointed to renewed bullishness among investors, with a commendably strong bout of dip buying going on over the last few sessions.
Perhaps even trade wars are losing their ability to shock?
In a time of surprises, the complete breakdown of talks between Labour and the Conservatives is perhaps the least surprising thing to happen. Ahead of European elections that seem to promise a complete drubbing for both parties, the need to try and talk tough is paramount. In addition, with the PM now essentially on borrowed time the prospect of Boris Johnson ascending to the premiership has revived the fears of a no-deal Brexit. The one consolation for UK investors is that it is doing wonders for the FTSE 100
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