Bullish Sentiment Reigns Supreme In Buoyant Markets

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Bullish Sentiment Reigns Supreme In Buoyant Markets

Bullish Sentiment Reigns Supreme In Buoyant Markets

Another big day for the markets on Friday as bullish sentiment looks as if it will carry the markets into the weekend.

Heading into the European afternoon session, the FTSE 100 is up 0.11%, currently trading at 6,549.30. Leading the charge is hotelier Intercontinental Hotels Group plc (IHG.L), trading at 1,932.00, a 3.54% premium to the open on analyst buy rating reaffirmations.

Similarly, the German leading index DAX 30 is up 0.21%, currently trading at 9,316.85. The day’s biggest gain in the index comes from cement distributor Intercontinental Hotels Group plc (IHG.L), currently trading at 61.15, a 2.43% gain on the open, still riding high on better than expected earnings earlier on in the week.

Across the channel, the index futures are up across the board. Dow futures are up 108.88 points (0.67%) at 16,331.05. Similarly, NQ 100 futures ate up 0.30% (11.20-points) pre US open, currently trading at 3,702.70.**relatedarticle**

The American boosts come as the general sentiment in the US improves, with a host of positive data being released throughout the week. Employment, construction, industrial production and consumption figures all came in better than expected, helping the markets to overcome Janet Yellen’s rate hike comments and maintain bullish sentiment.

How long the bullish sentiment will last remains to be seen. The situation in Ukraine is still hanging over the markets, and traders will surely have one eye on it as it unfolds. EU leaders signed an agreement on Friday with Ukraine, formally strengthening the ties between the two. The deal came just a matter of hours after the EU announced a host of new, stricter sanctions on Russia in response to its formal annexing of Crimea. If the situation escalates, it could quickly unravel the current risk-on sentiment of the global markets and pare the gains seen throughout this week. 

To contact the reporter of this story: Samuel Rae at samuel@forexminute.com