European markets ‘warmly received’ UK tax cut reversal

The UK government’s reversal of Prime Minister Liz Truss’ proposed tax cuts has been “warmly received” by markets across Europe, according to CommSec’s Tom Piotrowski. “In London, the FTSE was up 0.2 of a per cent, the German DAX was up by almost 0.9 of a per cent,” he told Sky News Australia. “US markets started off on a very strong footing – they were up by as much as two per cent, in the case of the S&P 500 at its best levels, but gave up ground over the course of the day. “Came to rest with an improvement of around 0.9 of a per cent.” Presented by CommSec. Via news.com.au — Australia’s leading news site https://www.news.com.au