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Though both the retail sales and consumer sentiment figures, at 0.6% and 98.1 respectively, were a tad lower than expected, they still provided enough fuel for the dollar to overturn its earlier losses. Against the pound it went from half a percent down to 0.1% up, pushing sterling back under $1.22 in the process, while taking another 0.2% off the euro. The Dow Jones also reacted positively to the figures, rising around 15 points after the bell; that only just put the index over 19900, however, a level it has repeatedly struggled to escape since before Christmas.

With the pound shedding the growth it had managed during the morning the FTSE received the green light to climb a bit higher this Friday. The UK index rose by 0.6% as the afternoon went on, not only pushing it towards yet another all-time peak but a 12th consecutive record-breaking close as well.

Yet it was neither the UK nor US indices that were Friday’s best performers, but those found in the Eurozone. The DAX and CAC rose 0.8% and 1% as the day went on, with the upbeat updates from JP Morgan and Wells Fargo in the US helping to extend the gains seen by the likes of Deutsche Bank, Commerzbank and BNP Paribas.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Connor Campbell

Connor Campbell

Connor joined Spreadex in 2014 as part of a newly expanded financial analyst team after graduating from the University of Southampton with an MA in English. His focus is on providing Spreadex's customers with up-to-date and informative news, and is responsible for the market analysis found on the Spreadex website.

Connor produces three daily market updates, a daily stock earnings preview, a weekly financial market preview piece every Friday, a round-up of all the big financial stories making the weekend press every Monday morning and regular stock market features.

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