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Over the course of the day France has also joined this endeavour, by offering to be the intermediary on behalf of the UN.
All European equity markets have gone up now the fear of war has been reduced. This climb was encouraged by some very good Chinese yearly industrial production data which jumped from 9.7% up to 10.4%, adding to growing sentiment that the Chinese economy is beginning to pick up the pace.
Both gold and oil on the other hand have seen an aggressive reversal to the last few days’ worth of trading. Gold – the most obvious home for security-seeking funds – has fallen away, while crude oil has also collapsed.
As a consequence, the FTSE has lagged behind the rest of the European indices, hampered by its greater exposure to commodity-orientated equities.