European share markets continued to stabilize today after Asian stocks rebounded from Wednesday’s sharp sell-off in the immediate aftermath of Donald Trump’s US election victory.
Hopes that Mr. Trump will introduce a pro-business agenda to stimulate US economic growth helped to blunt concerns about his surprise win.
In London, Paris and Frankfurt, the main stock markets were reported to have open 1% up.
Some observers have pointed out that it appears a consensus was building that much of Mr. Trump’s rhetoric during the campaign was a sales pitch rather than a commitment to act.
Earlier, gold prices went up after the announcement of Trump’s election, and development has been viewed as a positive phenomenon that could benefit gold producing country like Ghana.
Meanwhile, thousands of people have hit the streets in different cities in the U. S protesting against Trump’s election as president.
A BBC report stated that in London, the FTSE 100 index, which closed 1% up on Wednesday, advanced a further 1% in the first hour of trading on Thursday. Germany’s Dax and France’s Cac indexes were both 1.2% ahead.
“In Asia, following gains on Wall Street, the Nikkei’s 6.7% rise saw it more than recover losses from the previous session. Hong Kong’s Hang Seng added 1.9%,” the report said.
On the currency markets, sterling rose 0.39% against the dollar to $1.2455, and was slightly up against the euro at €1.1368.
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