- European markets solid
- Airlines and travel stocks performing well
- UK retail misses August expectations
European markets on a firmer footing on Friday. FTSE 100 made a bold move at the open to recapture the week’s intraday high at 7,093 struck on Monday before pulling back, still trades up roughly half of one per cent in early trade. This comes after a lacklustre session on Wall Street – Nasdaq up a touch, S&P 500 down a touch after the textbook bounce off the 50-day SMA on Thursday. Cyclicals were higher along with real estate, while basic materials and energy declined as oil pulled back from its highs and precious and some other metals took a hit. Stock markets on either side of the pond now just in the green for the week, Nasdaq just a tad lagging at the moment. Better session for the Hang Seng but still down 5 per cent for the week.
Airlines and associated travel stocks are among the top performers this morning on hopes for the relaxation of…