A second strong day on the markets was most welcome news. Driving the latest gains in equities was renewed hope of an amicable trade deal between the US and China. While optimism has quickly turned to pessimism on this topic many times in the past, it’s encouraging to see the two sides talking rationally again.
“The FTSE advanced nearly 1% to 6,163, Germany’s DAX index saw similar moves, while Japan’s Nikkei traded 1.4% higher. Unfortunately, some parts of Asia didn’t share the positive tone, with the Shanghai SE Composite falling 0.4%, dragged down by weakness in telecoms, utilities and industrials.
“On the UK market, investors bid up shares in miners, energy, telecoms and financials, among many other sectors. International Consolidated Airlines was the top riser, up 5.4% as investors reassessed opportunities in the travel and leisure. InterContinental Hotels and Whitbread were also in demand,” says Russ Mould, investment director at AJ Bell.