The run of solid economic data continues. For last night’s session we saw German factory orders surge 3.3 per cent in September, to be nearly 8 per cent higher annually, while over in the United Kingdom, industrial production rose 0.9 per cent. Admittedly this follows a fall in the month prior of about 1 per cent, but this is an economy only recently come to health. Annual growth in production is positive at 2 per cent, and then of course house prices are posting solid gains - Halifax reporting growth of about 7 per cent (annual) in the three months to October.
These are all very positive signals of course, although UK stocks were weaker with the FTSE100 down 0.1 per cent. The Dax and CAC had a better session though, rising 0.4 per cent and 0.8 per cent respectively.