A better than expected UK goods trade deficit for October was countered by a worse than forecast fall in construction output this morning, both figures failing to have much impact on either the FTSE or the pound. The UK index rose just over 10 points to encroach on the 6950 mark, while sterling took 0.2% off the dollar and 0.3% off the euro.
The Eurozone indices were equally uninspired this Friday having used up all their energy yesterday afternoon. The DAX dipped by 15 points, not enough to really take it away from its 12 month peak, while the CAC eked out a 15 point rise.
Looking ahead to the US and the Dow Jones is set for yet another record open, the US index continuing its astonishing post-election run (it is now just over 350 points away from the mythical 20000 mark). As for data, the main point of interest this afternoon will be the preliminary UoM consumer sentiment reading, a chance for the markets to assess both the post-Black Friday pre-Christmas landscape; the figure is forecast to increase to a 7 month high of 94.3 from 93.8 last month.
