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Markets buoyant on Trump boost

Dow Jones rises above 20,000 for first time

Asian stocks surged to their highest level since October after Wall St traders pushed the Dow Jones Industrial Average above the 20,000 level for the first time.

Japan’s Nikkei shrugged off a stronger yen to rise 1.4% and Hong Kong’s Hang Seng climbed 1.2%, encouraged by solid earnings and optimism over US President Trump’s pro-growth initiatives.

Asian markets are also positive about Japanese companies’ earnings.

Mr Trump’s pro-investment and tax-cutting stance is encouraging the flight into equities while his protectionist policies kept the dollar on the defensive.

The pound extended its overnight rally and touched a six-week high of $1.2648.

Oil prices bounced amid the dollar’s weakening. US crude was up 0.9% at $53.20 a barrel while Brent was 0.9% higher at $55.57 a barrel.

The FTSE 100 rose 14.09 points to 7,164.43.

 



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