Markets hold firm on encouraging Chinese trade data

Monday, December 09, 2013

European equity markets hold firm on encouraging Chinese trade balance as a lack of fresh data from the US left investors mulling over the positive employment numbers released last week. Despite spending the majority of the day in negative territory, London’s blue chip index looks set to close marginally higher, with a late stage rally pushing the index back above the open at 6,552. Wider European indices fared marginally better with the DAX trading 0.25% higher and the IBEX up 0.2% at the time of writing.

Market participants continue to contemplate the imminent withdrawal of Fed support in the coming months, helping developed market currencies push higher, with the euro and sterling adding 0.1% and 0.2% at the time of writing.  US equity markets managed to carry over the bullishness from the Asian and European sessions, with the S&P 500 opening 0.2% higher before rallying above 1,810 while the DJIA pushed past 16,050, but has since pulled back slightly and is currently trading between the 50 and 100 day MA.  

Topics: DJI, SP 500, DAX, FTSE100
More from: Kash Kamal