US stock markets resilient after Donald Trump election
US markets have proved resilient in the face of Donald Trump's surprise presidential victory, defying expectations of a sharp slump at the opening bell.
The Dow Jones Industrial Average and the S&P 500 indexes were up 0.3% and 0.2% respectively despite global stock markets nosediving in the wake of the announcement before mounting a recovery.
However, the technology-focused Nasdaq Composite index was under pressure from a Trump victory, trading 0.4% lower.
In the UK, London's top flight was 0.6% higher, or 46.75 points, to 6,890.65, paring losses after falling as much as 2% when the market opened.
European stocks were also trading higher, narrowing initial hefty falls, with the French Cac 40 and the German Dax up 0.4% and 0.5% respectively.
However, Mr Trump's victory took its toll on Asian markets, with Japan's Nikkei 225 index closing more than 5.3% lower and Hong Kong's Hang Seng Index dropping 2.2%.
Connor Campbell, a financial analyst at Spreadex, said Mr Trump's post-election address appeared to have calmed markets.
"Fuelled by pharmaceuticals (relieved they won't have a Clinton government putting pressure on drug prices), miners and anything that may benefit from Trump's promised big infrastructure spend, the Dow Jones, an index that was threatening to fall 800 points earlier in the day, actually managed a 20-point rise after the bell.
"So, what does this all mean? The narrative seems to be that Trump's presidential promises during his victory speech have reassured investors, allowing for the remarkable recovery seen this afternoon.
"The market may also be correcting the intensely negative gut reaction it had to the result, much as it did in the aftermath of the Brexit."
In oil markets, Brent crude prices see-sawed, dropping 0.3% to 45.91 US dollars (€41) a barrel.
Mr Trump's landmark victory had spurred investors towards safe-haven assets such as gold, which rose 1.3% to around 1290.17 US dollars (€1,167) an ounce.
