On Friday, the 24th of May 2019, a gauge of global stocks had been heaved higher, and oil price had gained some of its momentum after losing more than 5 percent yesterday (May 23rd), almost entirely buoyed by a bullish sentiment spurred by US President Donald Trump alongside a much-softer American dollar followed by release of a sharp decline on durable goods order.
Meanwhile, Friday’s (May 24th) market had witnessed a wild fluctuation on Pound Sterling following PM May’s resignation, which at the end of the day had posted a gain of 0.40 percent against American dollar to 1.2711 after falling to a multi-month low earlier this week.
Since flight-to-safety still plays a dominant role on Asian market, Japan’s Nikkei had posted another plunge of 0.2 percent, while on renewed hope on trade spat, Shanghai Mainland gained 0.3 percent alongside Hang Seng.
Alongside Wall Street, a majority of European bourses remained upbeat with its regional Pan-European STOXX 600, France’s CAC, Germany’s DAX and UK’s FTSE 100, all had posted a gain of around 0.8 percent on Friday’s (May 24th) market wrap-up.
Referring to a slight moderation of trade tensions, a Investec Chief Economist, Philip Shaw said, “It might be a step too far that there is optimism over a trade deal but there may be a little more optimism over the way talks are going”.