Dow and FTSE hold steady
08/03/2010 - 16:28:15America’s Dow Jones Industrial Average clung to its opening mark today after the rally seen last week following better-than-expected US unemployment figures and a wave of mergers and acquisitions.
The Footsie in London also paused for breath – up 11.6 points at 5611.4 – after surging to 18-month highs on Friday on the positive US economic news and signs that Greece was getting to grips with its debt crisis.
Asian markets also rose strongly overnight in reaction to last week’s cheer on news that US firms cut fewer jobs than expected last month. Hong Kong’s Hang Seng and Japan’s Nikkei showed gains of 2%.
Meanwhile the pound fell to 1.51 against the US dollar and 1.11 against the euro as economic and political uncertainty continued to impact sterling - although the currency has so far staved off the full-blow collapse threatened early last week.
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