European stocks maintained a slight bullish bias on Friday after Wall Street managed to rally despite a lacklustre start. Yesterday, the S&P 500 opened lower but bulls made steady progress throughout the session and the index ended at the highs. The FTSE 100 inched up in early trade Friday to above 6,350 as the consolidation of the November thrust continues. BAE Systems and Rolls-Royce led the way thanks to the government’s renewed commitment to defence spending. US 10-year yields continued to slip and haven’t been this low since the vaccine news broke – a reflation-rotation unwind in progress? Gold’s key support at $1,850 held again. WTI (Jan) rose to $42 but still remains very range bound.
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