As Britons make their way to polling stations for local elections, the focus is on Scotland where an outright majority for the pro-independence Scottish National Party could trigger a showdown with Boris Johnson's government, and hit the pound. A more pressing matter may be the Bank of England's policy meeting where there is a chance it could talk of trimming support for the recovering economy. As shown by the FTSE 100 index reclaiming the 7,000-point bar on Wednesday and making its biggest jump since February, sentiment is quite upbeat.
Wall Street stocks saw a mixed closing after positive economic data
European stock markets traded higher Thursday, as investors digest another largely positive batch of corporate earnings, including from Societe Generale (OTC:SCGLY) and Unicredit (MI:CRDI) and fashion retailers. At 3:40 AM ET (0840 GMT), the DAX in Germany traded 0.6% higher, the CAC 40 in France rose 0.5% and the U.K.’s FTSE 100 climbed 0.3%, rising to a new 52-week high. It has been another busy day for corporate earnings in Europe, with the banking sector leading the way.