Sat. Jan 23rd, 2021

Gold hits six-week high as traders look for Santa Rally – business live

Rolling coverage of the latest economic and financial news, on the final trading day before Christmas

1.48pm GMT

Time for a quick recap, as City traders dash home for Christmas (or possibly to the shops for a last-minute gift).

The traditional Santa Rally has lifted stocks across Europe today, on the final session before the Christmas holidays.

1.34pm GMT

The prospect of a Phase One trade deal between the US and China may have lifted markets this year….but there’s less optimism that a fuller deal will emerge soon.

As Vishnu Varathan of Mizuho Bank told clients:

“There are few reasons to believe that optimism about a broader or ‘Phase 2’ could emerge in the near term.”

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