As Dow tries again to breach 20,000, global stocks buoyant
LONDON — Global shares rose strongly Wednesday, building on Wall Street’s overnight rally and hopes that the Dow Jones index will finally break through the 20,000 mark for the first time ever.
KEEPING SCORE: In Europe, Germany’s DAX was up 1.3 per cent to 11,746 while the CAC-40 in France rose 1 per cent to 4,879. The FTSE 100 index of leading British shares was 0.4 per cent higher at 7,175. Wall Street was set for a solid opening too with Dow futures and the broader S&P 500 futures both up 0.3 per cent.
WALL STREET DRIVER: U.S. stocks continue to be the main driver across the world. They have enjoyed a strong rally recently amid hopes that the Trump administration will cut taxes, stimulate the economy and reduce red tape. However, the Dow has found resistance as it tries to break through the 20,000 mark for the first time ever. On Tuesday, it closed 0.6 per cent higher at 19,912.71.
ANALYST TAKE: “Wall Street looks like it has potential to try for the magic 20,000 record high that has eluded it for so long,” said Mike van Dulken, head of research at Accendo Markets.