Stock markets in the UK and Europe started the day on a positive note. This comes after news that house prices in the UK are not rising very quickly.
The FTSE and the DAX are both higher this morning. The FTSE 100 went up by 0.3% with the DAX 0.5% higher.
The STOXX 600 is up 0.4% thanks in large part to aerospace and defence stocks with names like the UK’s BAE Systems leading the way with gains of around 2.4%.
The biggest winner in the UK is a software developer called Kainos Group, whose stock jumped over 17% after it predicted strong future sales. Domino’s Pizza is also having a good day, with its stock up almost 7% after the company confirmed its financial goals and announced a plan to buy back its own shares.
Elsewhere, the Danish drug maker Novo Nordisk is up about 3% after sharing positive news that its weight-loss drug, Wegovy, is significantly more effective at reducing heart risks compared to a rival’s treatment.
On the FX front, the US dollar is a bit weaker today, dropping to its lowest value in over a month. This continues its recent downward trend, as the dollar lost more than 2% of its value during August.
As the dollar has fallen, other major currencies like the Euro and the British Pound have become stronger. Against the Japanese Yen, the dollar is mostly unchanged this morning, but it also weakened against the Yen last month by 2.5%.
Meanwhile, China’s currency, the yuan, is holding steady at a very strong level, near its highest point against the dollar in about ten months.
Currency Power Balance
